The National Bank Act only broadly outlines which transactions are at the SNB’s disposal for performing the monetary policy tasks assigned to it. Further details are spelled out in the Guidelines on Monetary Policy Instruments adopted by the Governing Board. The Guidelines, which have been prepared as a corollary to the monetary policy concept already defined by the National Bank, describe the instruments and procedures used for implementing this policy. In particular, they specify the terms on which the National Bank concludes transactions and the procedures that are to be observed in such cases. Further, they specify the types of collateral that are eligible for monetary policy transactions involving the SNB.
These SNB guidelines are supplemented by SNB Instruction Sheets on the individual monetary-policy transactions. In addition, counterparties are bound by the Terms of Business and any specific contractual agreements they have entered into.
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Guidelines of the Swiss National Bank (SNB) on Monetary Policy Instruments
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Instruction Sheet on Open Market Operations
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Instruction Sheet on the Intraday Facility
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Instruction Sheet on the Liquidity-Shortage Financing Facility (Special-Rate Repo Transactions)
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Instruction Sheet on Collateral Eligible for SNB Repos
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Instruction Sheet on the Custody Cover Account "SNB"
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Instruction Sheet on cashless payment transactions
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Terms of Business of the SNB
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