Head of Swiss National Bank under fire

Head of Swiss National Bank under fire
Monday, January 9, 2012 - 10:01am

The head of the Swiss National Bank will be questioned by members of the Swiss Parliamentary Economics Commission monday about a controversial currency trade made by his wife three weeks before he imposed a cap on the Swiss franc. The affair has tarnished the central bank's credibility.

Philipp Hildebrand, the bank's head, has been fighting allegations of wrongdoing after an employee of the bank used by his family leaked details of the trade to the lawyer of a political adversary. Shaking off critics' demands that he stand down, he told a news conference last week that he only learned of the trade the following day, rejecting claims that he had personally authorized the deal which made a sizable profit.

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