Swiss National Bank (SNB) Constitution and laws (as at January 2010)

The constitutional basis of the Swiss currency and the activity of the Swiss National Bank are contained in article 99 of the Federal Constitution. The monetary article embodies the National Bank's independence in the Constitution, as also the obligation to set aside adequate currency reserves from its earnings, part of them in gold. This is serves to help maintain public confidence in monetary stability. The central bank mandate consists in the obligation of the National Bank to pursue a monetary policy serving the interests of the country as a whole. In addition, art. 99 para. 4 of the Federal Constitution determines that the National Bank must distribute at least two-thirds of its net profits to the cantons.