Based on art. 5 para. 4 and art. 11 of the National Bank Act (NBA), the SNB shall provide banking services to the Swiss Confederation. The SNB provides these banking services to the Confederation in return for adequate remuneration. However, they are offered free of charge if they facilitate the implementation of monetary policy. Services subject to remuneration comprise payment transactions, liquidity management and the custody of securities. Details of the services to be provided and the remuneration are laid down in an agreement concluded between the Confederation and the SNB.
The SNB keeps sight deposit accounts in Swiss francs and foreign currencies for the Confederation.
The SNB issues money market debt register claims (MMDRCs) and Confederation bonds on behalf of and for the account of the Confederation. These are issued by auction via the SIX Repo Ltd electronic trading platform.