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15.06.1950
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Gentleman’s agreement with the banks on the treatment of foreign funds. The banks stop paying interest on existing capital deposits by foreigners as well as new deposits from outside the country.
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19.09.1950
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Agreement on a European Payments Union.
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01.11.1950
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Switzerland joins the European Payments Union. RO 1950 1209.
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15.04.1951
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The national initiative on a revision to art. 39 of the Federal Constitition (’free money’ initiative) is rejected, but the Federal Assembly’s alternative draft is accepted. RO 1951 606. Federal Council Message dated 29 May 1951. FF 1951 II 307.
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01.08.1951
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Gentleman’s agreement on construction finance.
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15.12.1951
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Gold trading regulations relaxed (repeal of provisions relating to the concession requirement and maximum prices) RO 1951 1160 and 1162.
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15.04.1952
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Cessation of SNB supervision of gold transit.
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01.07.1952
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Cessation of SNB monitoring of imports and exports of monetary gold.
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17.12.1952
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Federal Coinage Act (comprehensive revision). RO 1953 209. Federal Council Message dated 4 March 1949. FF 1949 I 521.
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18.05.1953
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Introduction of multilateral currency arbitrage for the currencies of various countries belonging to the European Payments Union.
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23.12.1953
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Federal Act on the Swiss National Bank (complete revision). RO 1954 599. Federal Council Message dated 21 April 1953. FF 1953 I 901.
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08.05.1954
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Federal Department of Finance and Customs’ directive on value-added tax (exclusion of coinage and fine gold from the tax). RO 1954 566.
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29.06.1954
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Federal Council Decree on the statutory price for banknotes and on repealing their conversion to gold. RO 1954 654.
Federal Council Decree on the nominal value of the banknotes to be issued by the SNB. RO 1954 655.
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14.05.1955
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Renewal of the gentleman’s agreement with banks of 15 June 1950, on the treatment of foreign funds.
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15.06.1955
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Agreement with banks and insurance institutions on the maintenance of minimum credit balances at the SNB.
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23.09.1955
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Federal Assembly Decree on the closure of the (second) Swiss federal loans office. RO 1955 843.
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29.03.1956
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Issue of CHF 20 banknote showing General Dufour on the front.
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01.04.1956
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Withdrawal of CHF 20 banknote issued in 1930 showing Heinrich Pestalozzi on the front.
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01.10.1956
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Issue of CHF 10 banknote showing Gottfried Keller on the front.
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04.12.1956
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Federal Assembly Decree renewing, for the years 1957 to 1977, the SNB’s exclusive right to issue banknotes. RO 1956 1653. Federal Council Message dated 22 June 1956. FF 1956 I 1276.
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25.03.1957
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Foundation of the European Economic Community (EEC).
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01.04.1957
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Introduction of special discount rates for compulsory stock bills.
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06.06.1957
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The Federal Assembly authorises the Federal Council to approve extension of Swiss membership of the European Payments Union by a further year. RO 1957 570.
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14.06.1957
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Issue of banknotes for CHF 50 (apple harvest), CHF 100 (St Martin), CHF 500 (fountain of youth) and CHF 1,000 (danse macabre).
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25.11.1957
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Treaties signed by Argentina and by the 11 European countries forming part of the multilateral payments system together with Argentina.
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31.03.1958
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Repeal of the gentleman’s agreement of 15 June 1955 on minimum credit balances and the gentleman’s agreement of 15 June 1950/14 May 1955 on foreign funds.
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18.06.1958
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Extension of the European Payments Union for the period of a year.
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01.10.1958
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Withdrawal of banknotes issued in 1911 and 1912 for CHF 50 (woodcutter), CHF 100 (mower), CHF 500 (embroiderers) and CHF 1,000 (foundry).
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27.12.1958
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Changeover to currency convertibility. As the result of a joint declaration by the most important countries in the OEEC (Organisation for European Economic Cooperation), the European Monetary Agreement replaces the European Payments Union. RO 1959 155 (cf. also RO 1955 613).
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