Commentaries: Art. 14

The following Swiss franc denominated liabilities of the banks count towards the calculation of the minimum reserves:
1. liabilities arising from money market instruments which cannot be attributed to either banks or customers, and which mature within three months;
2. liabilities vis-à-vis banks payable on sight or maturing within three months;
3. ¹ liabilities arising from customer time deposits, excluding tied pension fund monies;
4. liabilities arising from customer deposits payable on sight or maturing within three months (including call money);
5. liabilities arising from medium-term bank-issued notes maturing within three months;
6. ² .
Liabilities vis-à-vis banks which are themselves subject to minimum reserve requirements based on Articles 17 and 18 NBA are not counted in the calculation.
.³
The terms used in paragraph 1 letters a–e refer to FINMA’s accounting regulations⁴.⁵
Liabilities towards the National Bank are not counted in the calculation of the minimum reserves.⁶

Amended by No I of the SNB O of 11 April 2024, in force since 1 July 2024 (AS 2024 232). ↩
Repealed by No I of the SNB O of 31 Oct. 2019, with effect from 1 Jan. 2020 (AS 2019 3909). ↩
Repealed by No I of the SNB O of 31 Oct. 2019, with effect from 1 Jan. 2020 (AS 2019 3909). ↩
FINMA Accounting O of 31 Oct. 2019 (SR 952.024.1 ), as well as FINMA Circular 2020/1 ‘Accounting – Banks’ of 31 Oct. 2019. ↩
Inserted by No I of the SNB O of 2 July 2020, in force since 1 Jan. 2021 (AS 2020 4627). ↩
Inserted by No I of the SNB O of 2 July 2020, in force since 1 Jan. 2021 (AS 2020 4627). ↩

Art. 14