Reuters: US Dollar Report: TABLE-Swiss sight deposits higher in week ending May 24

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TABLE-Swiss sight deposits higher in week ending May 24 May 27th 2013, 07:06 Tweet Share this Email Print Related Topics Stocks » Currencies » Markets » Financials » Mon May 27, 2013 3:06am EDT ZURICH, May 27 (Reuters) - The amount of cash commercial banks hold with the Swiss National Bank edged higher last week, data showed on Monday. The level is partly a measure of how inclined banks are to find an ultra-safe home for their money and may also reflect efforts by the SNB to defend the 1.20 per euro cap it imposed on Sept. 6, 2011 on the soaring safe-haven Swiss franc. Sight deposits of domestic banks: Week ending Amount in Sfr millions May 24 280 967 May 17 278 637 May 10 278 526 May 3 280 794 April 26 284 222 April 19 284 327 April 12 281 734 April 5 281 665 March 29 283 799 March 22 282 979 March 15 282 164 March 8 283 026 March 1 286 144 Feb 22 288 048 Feb 15 285 025 Feb 8 280 226 Feb 1 281 934 Jan 25 283 522 Jan 18 284 331 Jan 11 283 683 Jan 4 282 640 Sight deposits are the accounts of commercial banks with the central bank, and constitute a large part of the liquidity in the banking system. As part of its efforts to weaken the franc, which shot to near parity with the euro last August, the SNB began flooding the money market with cash and raised total sight deposits to 200 billion, before capping the franc against the euro a month later. The SNB's tools for expanding sight deposits are foreign exchange swaps and repurchases of its own debt. Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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