Swiss bank chief faces grilling from MPs over currency trade

Swiss National Bank chief Philipp Hildebrand will be grilled today by MPs over a currency trade his wife made just three weeks before the bank capped the value of the Swiss franc.

Last week an anonymous whistleblower leaked details of Kashya Hildebrand's transactions, showing she swapped CHF 400,000 for US dollars on 15 August, making a reported profit of CHF 60,000 francs (£41,000). Hildebrand is expected to tell MPs he only found out about the trade the day after the bank effectively pegged the franc to the euro. According to reports in the Swiss media, Hildebrand has denied accusations he personally authorised the trade. Swiss newspapers yesterday published email conversations between Hildebrand and his wife after the whistleblower came forward. Hildeb...