The Swiss National Bank has been forced to publish its central bankers’ code of ethics after the wife of its chairman bought $500,000 of “almost ridiculously cheap” US dollars while the institution discussed putting the brakes on the Swiss franc’s rapid appreciation.
The decision to reveal the confidential code for top executives regarding financial dealings was prompted by a political storm over currency transactions conducted by Kashya Hildebrand, a former foreign exchange trader who is married to SNB chairman Philipp Hildebrand.
Mr and Mrs Hildebrand have also published all of their financial transactions for the past year and the chairman will address a news conference today to explain his wife’s actions.
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