BERN, Oct 31 (Reuters) - The Swiss National Bank (SNB) has rejected pleas to give some of its profits to struggling pension funds, Chairman Thomas Jordan said on Thursday, saying this would impair the central bank’s ability to conduct monetary policy.
The huge size of the SNB’s balance sheet also made its profits and losses subject to massive swings, Jordan told an event in Bern, meaning payments from the central bank not a sustainable solution to the shortfall in pension funds.
“We can make a big profit, but then it can disappear overnight,” Jordan said. Payouts “would hinder a sensible monetary policy and our goal of price stability,” he added. (Reporting by John Revill; editing by Brenna Hughes Neghaiwi)