Banks operating in Switzerland are subject to the Federal Act on Banks and Savings Banks (Banking Act) (German: www.admin.ch/ch/d/sr/c952_0.html; French: www.admin.ch/ch/f/rs/c952_0.html).
Detailed regulations – e.g. on capital, liquidity and risk diversification – are contained in the Ordinance on Banks and Savings Banks (Banking Ordinance) (German: www.admin.ch/ch/d/sr/c952_02.html; French: www.admin.ch/ch/f/rs/c952_02.html). The banking legislation also takes account of international agreements and recommendations, e.g. the Basel Capital Adequacy Accord. The statutory provisions are supplemented by codes of conduct and recommendations that the banks impose on themselves as a self-regulatory measure (www.swissbanking.org/home/allgemein.htm).
The Swiss Financial Market Supervisory Authority (FINMA) (www.finma.ch) grants banking licenses and is responsible for supervising banks.
In Switzerland, several regulatory reforms to strengthen the stability of the financial system have been initiated or have already been carried out.
In May 2010, the Swiss National Bank and FINMA revised the liquidity requirements for the two big banks.
| |
|
|
Press release of 21 April 2010: New liquidity regime for Swiss big banks
|
|
A committee of experts appointed by the Swiss Federal Council, which drew up a package of measures designed to mitigate the ‘too big to fail’ problem, completed its final report at the end of September (http://www.sif.admin.ch). The Swiss National Bank was represented on the committee.
| |
|
|
Press release of 04 October 2010: Final report
|
|
| |
|
|
Swiss National Bank statement on the recommendations of the Business Audit Commission in the area of financial stability (in German only)
|
|
