SNB total sight deposits w-e 31 March CHF 561.71bln vs 560.08bln prev

SNB sight deposits w-e 31 March

• domestic CHF 475.15bln vs 476.304bln prev

First fall in domestic depos for a while.

SNB seemingly feeling ok to take their foot off the intervention pedal but they won't be far away if euro continues to retreat

Total sight depos inc other depos on sight in CHF. Sight depos are the accounts of commercial banks with the SNB and make up a large part of the banking system's liquidity. The SNB increase sight deposits by FX swaps and repos of its own debt.

USDCHF 1.0013 from 1.0020. EURCHF 1.0686