Zurich. Below are the most important transactions executed on behalf of the account of Mr Hildebrand in 2011. The transaction data proves that on August 15th, an unrealized loss amounting to over USD 150'000 had been incurred. The subsequent purchase led the average price to drop to 0,8940 from 0,9375. USDCHF was trading at 0,7929 and an intervention and its possible effect highly in doubt.

In connection with the 1st purchase, which was 2.2x larger, the 2nd purchase is put into perspective and relativized.

Largest trades on behalf of Mr Hildebrand 2011

10.03.2011 BUY USD 1'173'000 @ USDCHF 0.9375
15.08.2011 BUY USD  504'000 @ USDCHF 0.7929
04.10.2011 SALE USD 516'000 @ USDCHF 0.9202

source: media release SNB, PwC audit report