As part of its contribution to the stability of the financial system, the Swiss National Bank acts as lender of last resort. In this role, it makes emergency liquidity assistance available to banks when, in crisis situations, they need substantial liquid funds which they are no longer able to obtain on the market. The SNB provides this liquidity assistance in the form of secured loans. It accepts a broad range of collateral for this - in particular also illiquid assets. The aim is for banks to be able to obtain as much liquidity as possible from the SNB should the need arise. Until now this liquidity assistance has ... (full story)