Amadeusz Juskowiak

Swiss sight deposits rise 310 billion francs

Sight deposits by commercial banks at the Swiss National Bank rose by 310 billion Swiss francs to 1053 billion in the last 10 days of February the National Bank said

Foreign exchange reserves fell 306 billion francs to 3064 billion

Sight deposits are an important measure of Swiss money market liquidity

The decline in foreign exchange reserves reflected the dismantling of swap arrangements the National Bank said

Banknotes in circulation rose by 834 mln francs to 2479 billion while other deposits on call mainly government funds

fell 160 billion francs to 104 billion