Swiss National Bank (SNB) Organisation (as at February 2012)

Organisation (as at February 2012)

Organisation regulations

The organisation of the SNB is regulated in the National Bank Act and in organisation regulations.

Geographical structure

The National Bank has two seats: one in Berne and one in Zurich. Moreover, it maintains six representative offices (in Basel, Geneva, Lausanne, Lugano, Lucerne and St Gallen). In addition, it has 13 agencies operated by cantonal banks and serving the country’s supply of money.

General Meeting of Shareholders

The General Meeting of Shareholders is held once a year, as a rule in April. Owing to the SNB’s public mandate, the powers of the Shareholders’ Meeting are not as extensive as in joint-stock companies under private law.

Bank Council

The Bank Council oversees and controls the conduct of business by the National Bank. It consists of 11 members. Six members, including the President and Vice-President, are appointed by the Federal Council, and five by the Shareholders’ Meeting. The Bank Council sets up four committees from its own ranks: an Audit Committee, a Risk Committee, a Remuneration Committee and an Appointment Committee.

Bank management

The National Bank’s supreme managing and executive body is the Governing Board. It is in particular responsible for monetary policy, asset investment strategy and international monetary cooperation.

The Enlarged Governing Board consists of the three members of the Governing Board and their deputies. It is responsible for the strategic and operational management of the SNB.

The members of the Governing Board and their deputies are appointed for a six-year term by the Federal Council upon recommendation of the Bank Council. Re-election is possible.

Internal organisation

The National Bank is divided into three Departments. The organisational units of Departments I and III are for the most part located in Zurich and those of Department II in Berne.

The scope of business of Department I includes: International Affairs, Economic Affairs, Legal and Administrative Affairs, Human Resources, Communications.

The scope of business of Department II includes: Cash, Finance and Controlling, Financial Stability and Oversight, Security.

The scope of business of Department III includes: Money Market and Foreign Exchange, Asset Management, Risk Management, Banking Operations, Information Technology.

The Secretariat General is the staff unit of the Governing Board and the Bank Council. It reports to the Governing Board and, in an administrative sense, belongs to Department I.

The Internal Auditors unit reports to the President of the Bank Council.

Staff

The number of staff employed by the SNB amounted to 650 persons at the end of 2010 (converted in full-time equivalents).