Commentaries: Art. 9

In performing its monetary tasks pursuant to Article 5 paragraphs 1 and 2, the National Bank may:
1. maintain interest-bearing and non-interest-bearing accounts for banks and other financial market participants, and take assets into custody;
2. open accounts with banks and other financial market participants;
3. buy and sell, in the financial markets, Swiss franc or foreign currency denominated receivables and securities as well as precious metals and claims on precious metals (spot or forward) or enter into lending operations therewith;
4. issue and repurchase interest-bearing bonds of its own (spot and forward) as well as create derivatives on receivables, securities and precious metals according to letter c;
5. enter into credit transactions with banks and other financial market participants on condition that sufficient collateral is provided for the loans;
6. hold and manage the assets designated in this Article.
It shall lay down the general terms and conditions for transactions in accordance with paragraph 1.