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Switzerland and Gold Transactions in the Second World War

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Interim Report on <strong>Gold</strong><br />

9<br />

Contents<br />

List of Charts <strong>and</strong> Tables<br />

No. Charts Page<br />

I <strong>Gold</strong> consignments of <strong>the</strong> Reichsbank <strong>in</strong> <strong>Switzerl<strong>and</strong></strong> 1940–1945 65<br />

II <strong>Gold</strong> purchased by <strong>the</strong> SNB from <strong>the</strong> Reichsbank 1939–1945 per quarter 66<br />

III Distribution of <strong>the</strong> SNB’s gold hold<strong>in</strong>gs at home <strong>and</strong> abroad 1939–1945 68<br />

IV <strong>Gold</strong> sold by <strong>the</strong> SNB on <strong>the</strong> market 1940–1945 81<br />

V Price trend for gold co<strong>in</strong>s <strong>in</strong> <strong>Switzerl<strong>and</strong></strong> 89<br />

No. Tables Page<br />

I Overview of gold transactions of <strong>the</strong> Reichsbank 39<br />

II <strong>Gold</strong> imports <strong>in</strong>to <strong>Switzerl<strong>and</strong></strong> 1939–1945 46<br />

III <strong>Gold</strong> purchases <strong>and</strong> sales by <strong>the</strong> SNB (gross <strong>and</strong> net) 51<br />

IV <strong>Gold</strong> transactions of <strong>the</strong> Reichsbank via <strong>the</strong> SNB (gross) 1940–1945 56<br />

V/1 Shipments of <strong>the</strong> Reichsbank to major Swiss banks 1940/41, per year 56<br />

V/2 Shipments of <strong>the</strong> Reichsbank to major Swiss banks 1940/41, per bank 56<br />

V/3 Shipments of <strong>the</strong> Reichsbank to Swiss commercial banks 1940/41 accord<strong>in</strong>g<br />

57<br />

to US source 1946<br />

VI Percentage cover of SNB notes <strong>in</strong> circulation, annual average 69<br />

VII <strong>Gold</strong> transactions between <strong>the</strong> SNB <strong>and</strong> <strong>the</strong> Banco de Portugal 1939–1945 83<br />

VIII SNB gold purchases <strong>and</strong> sales with <strong>the</strong> Allies, 1939–1945 135<br />

IX Movements of capital between <strong>Switzerl<strong>and</strong></strong> <strong>and</strong> <strong>the</strong> United States (1939–1945) 139<br />

X Geographic distribution of <strong>the</strong> currency reserves <strong>in</strong> gold (1940–1945) 140<br />

XI <strong>Gold</strong> hold<strong>in</strong>gs of <strong>the</strong> SNB <strong>and</strong> <strong>the</strong> Swiss Confederation (1939–1945) 141<br />

XII Francs needed by <strong>the</strong> Allies 144<br />

XIII Confederation gold deposits (1943–1945) 150<br />

XIV Balance sheets of <strong>the</strong> Swiss banks <strong>in</strong> 1940 (exclud<strong>in</strong>g private banks) 156<br />

XV <strong>Switzerl<strong>and</strong></strong>’s major banks <strong>in</strong> 1940 156<br />

XVI Purchases of Belgian looted gold by <strong>the</strong> SNB 166<br />

XVII Development of gross premium <strong>in</strong>come of Swiss <strong>in</strong>surance companies,<br />

173<br />

1939–1945<br />

XVIII Premium <strong>in</strong>come of Swiss <strong>in</strong>surance groups from German bus<strong>in</strong>ess<br />

174<br />

operations, 1943<br />

XIX <strong>Gold</strong> purchased by <strong>the</strong> big Swiss banks from <strong>the</strong> SNB (bars <strong>and</strong> co<strong>in</strong>s,<br />

Appendix 2<br />

1939–1945, gross value)<br />

XX <strong>Gold</strong> purchases <strong>and</strong> sales of <strong>the</strong> SNB, 1939–1945 Appendix 2<br />

XXI Profits of <strong>the</strong> SNB from gold <strong>and</strong> foreign currency trad<strong>in</strong>g 1939–1945 Appendix 2<br />

XXII Profits of <strong>the</strong> SNB from <strong>the</strong> purchase <strong>and</strong> sale of gold Appendix 2<br />

XXIII Compilation made by <strong>the</strong> SNB <strong>in</strong> 1946 <strong>and</strong> 1948 concern<strong>in</strong>g Dutch <strong>and</strong><br />

Belgium gold: Shipments from <strong>the</strong> Reichsbank to <strong>the</strong> SNB<br />

Appendix 2

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