agreement_profit_2016.en.pdf

The Swiss National Bank (SNB) sets aside a portion of its annual result to maintain currency reserves, and the remaining profit is distributed between the Confederation and cantons. The agreement covers the SNB's profit distributions for financial years 2016-2020.

1. A CHF 1 billion profit distribution is made to the Confederation and cantons if the balance of the distribution reserve after appropriation of profit is not negative.
2. If the condition in point 1 is met, the SNB distributes CHF 1 billion to the Confederation and cantons for each financial year.
3. The distribution will be reduced if it results in a negative balance in the distribution reserve, with the goal of leaving the reserve at precisely zero.
4. If the distribution reserve is not positive after allocation to currency reserves, the distribution will be suspended entirely.
5. Any reductions or suspensions will be made up for in subsequent years, provided doing so does not result in a negative balance in the distribution reserve.
6. If the distribution reserve exceeds CHF 20 billion, the SNB will make an additional distribution of CHF 1 billion to the Confederation and cantons.
7. The supplementary distribution will also be reduced if it results in a balance below CHF 20 billion.

The agreement replaces the previous profit distribution agreement between the Federal Department of Finance and the SNB.