SNB is the game ball, The national Bank is in the policy-the Case of the national Council intervenes in the Treasury of the national Bank. Thus, the political pressure on the SNB is as big as never before. This development is dangerous and only a new rule on the use of profits can stop you. Opinion Dominik Feusi1 Kommentar1Warnt in front of it, the independence of the national Bank to interfere with: SNB chief Thomas Jordan. Photo: Keystone

The profits of the Swiss national Bank (SNB) should be for the removal of the debt used by the Corona-crisis caused. And the income from negative interest rates to the benefit of the AHV. This is the national Council decided this week. SNB chief Thomas Jordan rejected the Latter, and warns that the independence of the national Bank to interfere. Compared to the banks, he shows himself generous, and he has done everything to reduce the size of the output from the negative interest rates.

no Matter how one stands on these ideas: never before has the policy that it has used so directly in the Fund by the SNB. However, this is not entirely new. The fall into sin happened in 2012. As the national Bank wrote to the financial crisis, huge losses, announced, you, the cantons, nothing more to pay. The Finance Director pressure made, because they had planned to be the Boon in your budget. In the end, they received still money.

Not only for Corona, the policy switched to the billion with the national Bank.

Since then, the SNB has a “distribution reserve” that is always to become bigger. And today, around eighty billion Swiss francs, the policy is cross-eyed. It is clear, it will not stay in the decisions of the national Council. “The covetousness knows no barrier, only increase,” wrote the Roman philosopher Seneca.

Who wants to preserve the independence of the national Bank, must work for a new, overarching rule for the distribution of the profit of the national Bank – like the successful debt brake in the Constitution, such as money and back debts paid will be issued.

If the income of the national Bank belongs to the people, then he would have to be distributed.

If the income of the national Bank “belongs to the people”, then he would have to be distributed to the population, the most suitable via the health insurance. Less radical would it be to note that the profits will be irregular, or not at all and to consider, therefore, in the case of the Confederation and the cantons as extraordinary income and not in the current budget, the verse may seep.

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