Seite 7/7  Developments on the Swiss franc capital market and the SNB’s monetary policy Andréa M. Maechler Member of the Governing Board of the Swiss National Bank Money Market Event Geneva, 16 November 2017  Sources: Bloomberg, JP Morgan, SNB  Since start of year, Swiss franc has fallen about 5%, but remains highly valued  1  16.11.2017 Developments on the Swiss franc capital market and the SNB’s monetary policy | Andréa M. Maechler | © Swiss National Bank  Sources: SIX, SNB  Swiss franc bond market has declined slightly despite record-low interest rates in recent years  2  16.11.2017 Developments on the Swiss franc capital market and the SNB’s monetary policy | Andréa M. Maechler | © Swiss National Bank  Sources: SIX, SNB  Growth in Swiss segment is driven by mortgage bond institutions and corporations  3  16.11.2017 Developments on the Swiss franc capital market and the SNB’s monetary policy | Andréa M. Maechler | © Swiss National Bank  Source: SNB  Corporate loans have become less attractive than corporate bonds  4  16.11.2017 Developments on the Swiss franc capital market and the SNB’s monetary policy | Andréa M. Maechler | © Swiss National Bank  Sources: SIX, SNB  Contraction in foreign segment since 2011 due to withdrawal of foreign banks  5  16.11.2017 Developments on the Swiss franc capital market and the SNB’s monetary policy | Andréa M. Maechler | © Swiss National Bank  Sources: Bloomberg, SNB  FX swap market distortions make it more expensive for foreign issuers to raise capital  6  16.11.2017 Developments on the Swiss franc capital market and the SNB’s monetary policy | Andréa M. Maechler | © Swiss National Bank  Low interest rates have made Swiss franc bond market less attractive for foreign investors  73  77  79  21  17  15  11 Source: SNB  72  7  16.11.2017 Developments on the Swiss franc capital market and the SNB’s monetary policy | Andréa M. Maechler | © Swiss National Bank  Source: SNB  Demand for money market debt register claims remains strong despite very negative returns  8  16.11.2017 Developments on the Swiss franc capital market and the SNB’s monetary policy | Andréa M. Maechler | © Swiss National Bank  Sources: Complementa, SNB  Pension funds, a large investor category, are hedging a growing share of their assets  9  16.11.2017 Developments on the Swiss franc capital market and the SNB’s monetary policy | Andréa M. Maechler | © Swiss National Bank  Thank you for your attention.

Ravi Menon: Blended finance for the net-zero transition Opening remarks by Mr Ravi Menon, Managing Director of the Monetary Authority of Singapore, at the "Transition Finance towards Net Zero" conference, Singapore, 4 October 2022. *** Good morning and welcome to the inaugural Transition Finance towards Net Zero conference. COP27 will be held in Sharm El-Sheikh, Egypt, in a little over a month. We are privileged to have with us Dr Rania Al-Mahsat, Egypt's Minister for International Cooperation, who will set out the Egyptian COP27 Presidency's priorities to turn climate ambition into climate action. Why are we gathered here? Let me briefly lay out the problem statements and then set out how this conference hopes to contribute in specific ways to help the situation. First, the world is currently not on a trajectory to achieve net zero emissions by 2050. And we know this is what is required to prevent or avoid catastrophic climate change. To reach Net Zero by 2050, the world needs to reduce greenhouse gas emissions by 45% by 2030, relative to 2010 baseline levels. But emissions today are still rising, not falling. And according to the UN Emissions Gap report 2021, based on our current policies in place, the world is 55% short of the emissions reduction target for 2030. Second, the world is investing nowhere near what is required to get to net zero by 2050.