Swiss Treasury to tap markets more for virus-fighting effort

Reuters
Updated ·1 min read

ZURICH, March 31 (Reuters) - Switzerland's treasury is stepping up its funding plans in response to government measures to cushion the economic impact of the COVID-19 pandemic, doubling the volume of outstanding short-term money market instruments.

"Over the course of this year, the Federal Finance Administration (FFA) will increase the outstanding volume of short-term money market instruments from around 6 billion Swiss francs ($6.24 billion) to 12 billion francs," the treasury said in a statement on Tuesday.

"In addition, it will once again step up sales of its own Confederation bond holdings."

($1 = 0.9617 Swiss francs) (Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)