Swiss Sight Deposits Fall by 416.9 mln Francs

Sight deposits of commercial banks at the Swiss National Bank fell by 416.9 mln Swiss francs to 7.46 billion in the six days ending April 16, the National Bank said.

Sight deposits are an important measure of money market liquidity in Switzerland.

Foreign exchange reserves fell by 627.4 mln francs to 32.50 billion francs. The National Bank attributed this fall to the dismantling of outstanding swap arrangements.

Bank notes in circulation fell by 116.9 mln francs to 24.36 billion while other deposits on call at the National Bank, mainly government funds, fell by 116.0 mln francs to 825.5 mln.