Unexchanged old bank bills means the Swiss National Bank can distribute CHF 1bn to the cantons.
The money comes from the sixth series of bank notes which ceased to be legal tender in the year 2000.
They’re the notes that had ants on the back of the 1000 franc note and the blue 100 franc note with the architect Francesco Borromini.
They first entered circulation in 1976.
The notes can still be changed at the SNB – but the bank now believes they are missing. In many cases they may be destroyed or have ended up abroad – maybe as souvenirs.
The billion francs unaccounted for can now be released. The cantons will get an amount based on population. Zurich will get CHF 85m. Bern 56 million and Geneva 28 million.
Some will be held back to be paid out in the case of a natural disaster.
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