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Amendment of National Bank Ordinance
The Swiss National Bank is amending the National Bank Ordinance (NBO). Various terms used in the NBO will be revised in connection with the entry into force of the Financial Services Act (FinSA) and the Financial Institutions Act (FinIA) as of 1 January 2020. Moreover, technical adjustments will be made to the statistical surveys in the Annex to the NBO. And finally, two positions will no longer be counted towards the calculation of the minimum reserves. The National Bank Act requires banks to keep minimum reserves in order to facilitate the smooth functioning of the money market. The NBO sets out in detail which ... (full story)