A storm in a teacup

There has been an increase in the focus on the Swiss franc lately, and whether it runs the risk of losing its status as a safe haven. The main reason behind these fears is the Swiss banking sector's size relative to GDP or, more specifically, the level of Swiss banks' foreign currency borrowing. The UK Financial Times reported last week Swiss banks have large foreign currency balance sheets, with some Sfr2.100 trillion denominated in foreign currencies at the end of September. That certainly