On the basis of art. 44 of the Ordinance on Capital Adequacy and Risk Diversification for Banks and Securities Traders (Capital Adequacy Ordinance, CAO) and following consultation with the Swiss Financial Market Supervisory Authority (FINMA), the Swiss National Bank (SNB) has submitted a proposal to the Federal Council, requesting the activation of the countercyclical capital buffer (CCB). The proposed capital buffer is targeted at mortgage loans financing residential property located in Switzerland. The proposal sets a level of 1% of associated risk-weighted positions, and a deadline for compliance with the CCB of ... (full story)