stocks, and as such, he is the third-largest shareholder, between the Canton of Vaud (3.401%) and the Canton of Zürich (5.2%). The national bank's statutes, though, limit the voting rights of private investors to 100 shares. 2022 losses On 9 January 2023 the SNB reported a loss of 132 billion CHF in its annual results for 2022. Responsibilities The basic governing principles of the Nationalbank are contained within Article 99 of the Federal Constitution, which deals with matters of monetary policy. There are three numbered factors concerning principles explicitly mentioning the Nationalbank, of four altogether shown within the Article. The SNB is therefore obliged by constitutional statute law to act in accordance with the economic interests of Switzerland. Accordingly, the prime function of the Nationalbank is: The National Bank publishes within its own site a list of research done as work in progress by staff members, which begin at 2004 (2 papers), to 2005 (2), 2006 (11), 2007 (17), 2008 (19), 2009 (16), 2010 (19), 2011 (14), 2012 (16), 2013 (11), 2014 (13), and to 1 August 2015 there is shown nine papers, a list of eight economic studies which relate to the tasks of the bank, listed from 2005, in addition to a bi-annually published update of research, listed from 2012 to the present. Cash supply and distribution The National Bank is entrusted with the note-issuing privilege. It supplies the economy with banknotes. It is also charged by the Confederation with the task of coin distribution. Cashless payment transactions In the field of cashless payment transactions, the National Bank provides services for payments between banks. These are settled in the Swiss Interbank Clearing (SIC) system via sight deposit accounts held with the National Bank. Investment of currency reserves The National Bank manages currency reserves. These engender confidence in the Swiss franc, help to prevent and overcome crises and may be utilized for interventions in the foreign exchange market. Financial system stability The National Bank contributes to the stability of the financial system by acting as an arbiter over monetary policy. Within the context of this task, it analyses sources of risk to the financial system, oversees systemically important payment and securities settlement systems and helps to promote an operational environment for the financial sector. International monetary cooperation Together with the federal authorities, the National Bank participates in international monetary cooperation and provides technical assistance. Banker to the Confederation The