SWISS SIGHT DEPOSITS FALL 2.88 BILLION FRANCS

  Sight deposits of commercial banks at
  the Swiss National Bank fell 2.88 billion Swiss francs in the
  first 10 days of March to 7.65 billion, the National Bank said.
      Foreign exchange reserves rose 3.30 billion francs to 33.94
  billion.
      Sight deposits are a major indicator of money market
  liquidity in Switzerland.
      The National Bank said banks paid back 5.5 billion francs
  of central bank credit taken out at the end of February for the
  end-month liquidity requirement.
      This drain was offset in part by new currency swaps, which
  had the effect of increasing the National Bank's foreign
  exchange holdings.
      Bank notes in circulation fell 309.1 mln francs to 24.49
  billion, and other deposits on call -- basically government
  funds -- rose 1.06 billion to 2.10 billion.
  

