Swiss Ban on SNB Arms Investment Trending Toward 'No,' SRF Says – BNN

(Bloomberg) — Swiss voters appear to be on course to reject a measure that would ban the country’s central bank from investing in defense companies, according to broadcaster SRF.

Results are due later on Sunday. No trend was yet available for an initiative on corporate ethics, the broadcaster said.

The Swiss National Bank holds defense company stocks as part of its mammoth 870 billion francs ($960 billion) in reserves. It’s a passive investor, merely tracking indexes, but anti-war activists argued a ban would send a strong signal about the ethics of weapons financing.

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