The Swiss National Bank (SNB) announced it is transferring a total of CHF 890.6 million to the Swiss Fund for Aid in cases of Uninsurable Damage by Natural Forces (Fondssuisse) as well as to the Confederation and the cantons. The amount corresponds to 90% of the equivalent value of sixth-series banknotes that were recalled and had not been exchanged by 30 April 2025. The allocation follows the Federal Act on Currency and Payment Instruments, which removed the exchange deadline for old banknotes from the sixth series onwards and provides that, 25 years after a recall, 90% of the unexchanged value is distributed as follows: CHF 178.1 million to Fondssuisse, CHF 237.5 million to the Confederation and CHF 475.0 million to the cantons. The SNB retains the remaining 10% of the equivalent value, CHF 99.0 million, to meet its unlimited exchange obligation. Sixth-series banknotes were recalled as of 1 May 2000, with the allocation calculated using 30 April 2025 as the reference date and transferred to recipients in May 2025. The banknotes remain exchangeable at the SNB for an unlimited period at nominal value.
Swiss National Bank 2025-05-09
Swiss National Bank transfers CHF 890.6 million from unexchanged sixth-series banknotes to Fondssuisse, the Confederation and the cantons
The Swiss National Bank (SNB) is transferring CHF 890.6 million to Fondssuisse, the Confederation, and the cantons, representing 90% of the unexchanged value of sixth-series banknotes recalled by 30 April 2025. This allocation follows the Federal Act on Currency and Payment Instruments, which mandates distribution 25 years post-recall. The SNB retains CHF 99.0 million to fulfill its unlimited exchange obligation.