Swiss National Bank, 2008
Zurich, Switzerland (GenevaLunch) – Household wealth, measured in terms of assets, grew more slowly in 2007 than in 2006, Swiss National Bank figures released this week show. Net financial assets per capita amounted to roughly
CHF171,000.
The total amount for Swiss households was CH1.3 billion, up CHF24b, but in 2006 they rose CHF106b. The difference was due to a slight loss of capital, a CHF9 billion drop in 2007, with households affected by falling prices of domestic shares and Swiss franc bonds. The 2007 weakening of the US dollar against the Swiss franc also hurt them.
Households sold more shares than they bought in 2007 and made contributions to pension schemes through their jobs. As a result “insurance technical reserves” recorded the steepest rise among households’ assets, growing by CHF20b to CHF813b.
About 90% of Swiss households’ financial liabilities took the form of mortgages, which in 2007 rose by CHF17b to CHF565b. Other types of loans rose by CHF1b to
CHF48b.
Total Swiss household net liabilities rose by CHF19b to CHF620b.
This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.
News story, GenevaLunch, 20 November 2008.
Filed under: Society
Tags: assets, household wealth, mortgages, Swiss households, Swiss personal liabilities
You can leave a response, or trackback from your own site.