Collateral eligible for SNB repos
In accordance with art. 9 para. 1 (e) of the National Bank Act, the Swiss National Bank (SNB) may enter into credit transactions with banks and other financial market participants on condition that sufficient collateral is provided for the loans. As a rule, open market transactions and standing facilities are carried out by means of repo transactions.
Only securities that fulfil stringent requirements with regard to credit rating and liquidity are accepted as collateral by the National Bank. The criteria for the eligibility of securities are detailed in the Instruction sheet on collateral eligible for SNB repos. Only those securities included in the list of collateral eligible for SNB repos may be pledged as collateral for repo transactions. The SNB decides whether securities will be included or excluded from the list of collateral. All securities contained in the list form part of the SNB GC Basket.
Based on their characteristics, the securities in the SNB GC basket are assigned to additional baskets. The L1 Basket contains Swiss franc and foreign currency securities issued by, as a rule, central banks, public sector entities and multilateral development banks. The L2A Basket contains all other securities from the SNB GC Basket. In addition, Swiss franc securities are pooled in an L1 CHF Basket and an L2A CHF Basket.
The SNB maintains the 'List of collateral eligible for SNB repos (SNB GC Basket)', updating and publishing it on a daily basis. It also publishes a list of all modifications to the basket. This list covers new issues, exclusions and redemptions over the last 12 months and is also updated every day. By subscribing to an RSS feed, you will receive a daily update of the latest list of securities eligible for SNB repos.
An online search function (Search list) can be used to check the eligibility of a particular security in the SNB GC Basket. A similar function is also available for the modifications (Search modifications), allowing specific searches to be carried out for new issues, exclusions and redemptions. Personal search settings can be saved (in Favorites) or exported as a CSV or XML file.
The two list tables accessible below use Microsoft Office Excel 2007 (file format: .xlsx). Users with older Excel versions are requested to download the tables in CSV format (cf. Search list and Search modifications pages).
If you wish to apply for the inclusion of securities in the list or if you have questions relating to the list, to modifications or to the Instruction sheet on collateral eligible for SNB repos, please contact the Portfolio & Financial Data Administration unit, SNB Department III, e-mail email@example.com.