The Federal Department of Finance (FDF) and the Swiss National Bank (SNB) have signed a multi-year agreement governing the central bank's profit distributions for the financial years 2026 through 2030. The accord, which maintains existing structural modalities, takes effect from the 2026 financial year to replace the previous agreement enacted in 2021 that covered the 2020 to 2025 period.
Under the terms of the new agreement, an amount of up to CHF 6 billion per annum may be distributed to the Confederation and the cantons, provided the SNB's financial situation permits. The maximum payout comprises a base amount of CHF 2 billion, which is disbursed if the central bank achieves a net profit of at least CHF 2 billion. In addition, the agreement outlines four supplementary distributions of CHF 1 billion each, triggered when net profit reaches thresholds of CHF 10 billion, CHF 20 billion, CHF 30 billion, and CHF 40 billion, respectively.
Separately, in accordance with the National Bank Act requiring the SNB to maintain currency reserves necessary for monetary policy through annual provisions, the central bank will lower its minimum allocation to provisions from 10% to 8% starting in the 2026 financial year. This adjustment reflects improvements in the SNB's equity position in recent years and remains subject to annual approval by the Bank Council. Remaining profits after provisioning are available for distribution to the Confederation and cantons, with the multi-year framework designed to smooth distribution flows over the medium term. The cantons received prior notification regarding the finalized agreement.
