Commentaries: Art. 9

The National Bank may recall note denominations, types and series.
The public cash offices of the Confederation shall accept the recalled notes in payment at their nominal value for a period of six months following the first notice of recall.
Notwithstanding paragraph 4 and subject to Article 8, the National Bank is required to exchange at nominal value recalled notes that were issued from1976 as part of the sixth banknote series or as a subsequent series.¹
The equivalent value of recalled notes that are not returned for exchangeshall be allocated after 25 years from the first notice of the recall as follows:
1. one fifth of 90 per cent of the equivalent value shall go to the Swiss Fund for Aid in cases of Uninsurable Damage by Natural Forces and of the remaining four fifths of the 90 per cent of equivalent value, one third goes to the Confederation and two thirds to the cantons;
2. 10 per cent of the equivalent value shall be retained by the National Bank in order to meet the exchange obligation under paragraph 3.²

Amended by No I of the FA of 21 June 2019 (Time Limit for Exchanging Banknotes), in force since 1 Jan. 2020 (AS 2019 3769;BBl 2018 1097). ↩
Amended by No I of the FA of 21 June 2019 (Time Limit for Exchanging Banknotes), in force since 1 Jan. 2020 (AS 2019 3769;BBl 2018 1097). ↩

Art. 9