SNB predicts loss

BERLIN: The Swiss National Bank (SNB) says it expects a loss of 23 billion Swiss francs ($23 billion) for 2015. A loss of about 20 billion francs resulted from the drop in the value of the bank’s foreign currency holdings. The SNB said in a statement on Friday that it booked a further four billion loss due to declining gold prices, but gained one billion francs from its Swiss currency holdings.