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Annual Report 2003

Complete Annual Report [581 kb]

Preface [50 kb]

Review of economic developments [205 kb]

  1. International developments
  2. Switzerland


Monetary policy of the Swiss National Bank [135 kb]

  1. Concept
  2. Implementation


Legal framework [58 kb]

  1. Total revision of the National Bank Law
  2. Message concerning the Federal Law on international monetary aid
  3. Appropriation of 1,300 tonnes of National Bank gold - new constitution basis
  4. Supplementary agreement on the distribution of income from the SNB's free assets


Other central bank functions [172 kb]

  1. Investment of assets
  2. Payment transactions
  3. Services on behalf of the Confederation
  4. Cooperation with federal agencies
  5. International cooperation
  6. Stability and oversight of the financial system
  7. Statistics


Structure and organisation of the National Bank [134 kb]

  1. Information for shareholders
  2. Organisation
  3. Staff and resources
  4. Changes in the supervisory authorities and staff


Financial report [130 kb]

  1. Income statement for the year 2003
  2. Balance sheet as of 31 December 2003
  3. Notes to the accounts as of 31 December 2003
  4. Proposals of the Bank Council to the Annual General Meeting of Shareholders
  5. Report of the Auditing Committee to the Annual General Meeting of Shareholders


Chronicle and press releases on monetary policy [55 kb]

  1. Chronicle
  2. Press releases on monetary policy


Miscellaneous information [80 kb]

  1. Supervisory and executive bodies
  2. Organisation Chart
  3. Publications
  4. Adresses of the head offices and branches