The people's initiative "National Bank profits for the Old Age and Survivors' Insurance Fund (AHV/AVS)", better known as the Cosa initiative, which was put to the vote on 24 September 2006, demanded that the National Bank's future profits be allocated to the AHV/AVS. Both the Federal Council and the Swiss Parliament rejected the initiative, as did the Swiss National Bank.
Press releases
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Statement on the outcome of the vote held on 24 September 2006
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For information regarding SNB-specific aspects of the initiative and the SNB's reasons for rejecting it, please consult the factsheets (available in German and French only).
