| Funds - mostly in the form of a savings account - which private individuals or companies invest at a bank and which earn interest.
Financial instruments embodying a right of ownership or a right to an asset. Shares and bonds are the most important types of security traded on the capital market.
See Swiss Interbank Clearing.
A sight deposit account is a bank account through which transfers in the form of cashless payments and cash deposits and withdrawals can be effected.
Funds which can be transferred immediately and without restriction to another account or which can be converted into cash.
See National Bank.
See
special-rate repo transactions.
Banks may
experience liquidity shortages if, for instance, payments are
not received at the time they were expected. The National Bank
provides a "liquidity-shortage financing facility" to bridge
short-term liquidity bottlenecks of this kind. This facility
is accessed through special-rate repo transactions, offered at
an interest rate which is higher than the repo rate for
day-to-day operations. This premium is intended to prevent the
banks using special-rate repo transactions as a permanent
source of refinancing.
FINMA,
the Swiss Federal Financial Market Supervisory
Authority, is responsible for the supervision of the Swiss
banking and stock exchange sectors. It ensures that the
provisions of the
Banking Law and other supervisory legislation are
complied with. FINMA is structured as an institution under
public law. Its Board of Directors is appointed by the Swiss
Federal Council.An electronic system for settling cashless payments between the banks in Switzerland. The technical platform is operated on behalf of the National Bank by
SIX Interbank Clearing Ltd (SIC Ltd), a company belonging to SIX Group. The National Bank is represented on the SIC
Ltd Board of Directors. The National Bank also conducts the transactions that it concludes for implementing its monetary policy through the SIC system.
See National Bank.
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