Swiss Sight Deposits At CHF218.8 Billion In Week To Jan 13

Swiss Sight Deposits At CHF218.8 Billion In Week To Jan 13

Swiss sight deposits edged up to 218.8 billion Swiss francs ($229.2 billion) in the week ended Jan. 13, from CHF217.2 billion in the previous week, data released by the Swiss National Bank (SNBN.EB) showed Monday.The average level of sight deposits had been increased last year when the SNB boosted the total level of non-interest funds--which banks are required to deposit with the central bank--to CHF200 billion.
SNB directorate member Jean-Pierre Danthine said Dec. 15 that the central bank will keep liquidity at an "exceptionally high level," adding the central bank won't set a specific target for sight deposits.
The Swiss central bank aims to manage demand for the Swiss currency by flooding the franc money market with liquidity.
Sight deposits are funds which can be transferred immediately and without restriction to another account or which can be converted into cash, according to the SNB's website.