Activity report 2022

Money market instruments and loans

Money market instruments

The "Money market instruments" asset class consists of liquid assets in CHF, whose yield in Swiss francs for 2022 was 0.0%. It amounted to CHF 484 million at the end of 2022, which corresponded to a share of 1.4% in the market portfolio.

The "Money market investments" asset class is handled by the Management Office.

Loans

In the reporting year the "Loans" asset class returned –‍6.3%.

At the end of 2022, the total value of loans granted to domestic borrowers such as cantons, municipalities or public-sector entities was CHF 1 006 million, which corresponded to a share of 2.9% of the market portfolio.

In the year under review, loans with a nominal value of CHF 360 million matured and were repaid. New loans were granted to municipalities for CHF 31 million, CHF 53 million to railways or bus companies (public transport) with a joint and several guarantee from the Swiss Confederation and CHF 15 million to a public transport company with a joint and several guarantee from the Canton of Vaud. The "Loans" investment category is administrated by the Management Office.


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