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The world of the National Bank
Questions and answers
Glossary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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.