In this period, the SNB accumulated foreign currency reserves worth over 200 billion Swiss francs (Codes: CHF, SFr).

In an article titled “With Unsteady Hand”, Switzerland's major business magazine Bilanz criticized Hildebrand's leadership of SNB, citing his limited experience and saying that his actions in large parts seem to be the result of his eagerness to appeal to the public.

"I made mistakes" in not canceling the trade, which profited from the SNB's decision to intervene in the currency markets two days later "but I always acted in line with the rules", he said.

A whistleblower alleged to have released the information about the trade has been fired and faces criminal investigations under Swiss banking secrecy laws.

[19] Kashya, who runs an art gallery in Zurich[20] and previously traded currencies,[15] made two other transactions – the three totaled $2 million principal amount – but the other two "didn’t break central bank rules because they were more than six months apart".

[21] Die Zeit in a strongly worded commentary downplayed any wrongdoing on Hildebrand's part, stressing the evidence was "stolen" and the resignation came only "to maintain credibility" of SNB.

[22] Hildebrand announced his resignation on 9 January 2012 stating that "Credibility is a central banker's most valuable asset", and that the accusations came "during a time when total focus is needed on the duties."

[24] On 7 March, an independent audit by KPMG of financial transactions by all members of the governing board of the bank found no breach of regulations occurred.

[27][2] In 2020, the Swiss government nominated Hildebrand as its candidate to succeed Angel Gurría in the position of Secretary-General of the Organisation for Economic Co-operation and Development (OECD) for a five-year term.

[40] Until 2022, his partner was Margarita Louis-Dreyfus, the Russian-born Swiss billionaire businesswoman, chairman of Louis Dreyfus and the former owner of Olympique de Marseille football team.