Commentaries: Art. 2

In this Ordinance:
1. Bank means any person or company in possession of a licence pursuant to Article 3 of the Federal Act on Banks and Savings Banks of 8 November 1934¹;
2. ² Securities firm means any company pursuant to Article 41 of the Financial Institutions Act of 15 June 2018³;
3. ⁴ Fund management company means any company pursuant to Article 32 of the Financial Institutions Act;
4. ⁵ Representative of a foreign collective investment scheme means any person or company pursuant to Article 123 of the Collective Investment Schemes Act of 23 June 2006⁶;
5. ⁷ Insurance company means any institution pursuant to Article 2 of the Federal Act of 17 December 2004⁸on the Oversight of Insurance Companies;
6. Occupational pension scheme means any pension scheme that is inscribed, pursuant to Article 48 of the Federal Act of 25 June 1982⁹on Occupational Old Age, Survivors and Invalidity Insurance, in the occupational pensions register held by the supervisory authority;
7. Investment and holding company means any legal entity, company or public law institution, whose principal object is the ongoing administration of participations, and which meets the requirements laid down in the Annex to this Ordinance;
8. ¹⁰ Systemically important f inancial market infrastructure means a payment system, a central securities depository or a central counterparty pursuant to Article 22 paragraph 1 of the Financial Market Infrastructure Act of 19 June 2015¹¹(FinMIA);
9. ¹² Payment system means an entity pursuant to Article 81 FinMIA;
10. ¹³ .
11. ¹⁴ Central securities depository means an entity pursuant to Article 61 paragraph 1 FinMIA;
12. ¹⁵ Central counterparty means an entity pursuant to Article 48 FinMIA;
13. ¹⁶ Operator means a central securities depository as well as any person or company operating a payment system or central counterparty;
14. ¹⁷ Indirect participant means any person pursuant to Article 2 letter e FinMIA;
15. ¹⁸ Operational risk means the risk that, as a result of inadequate or failed internal procedures or systems, human error or external events, the functioning of the financial market infrastructure is impaired or financial losses are incurred;
16. ¹⁹ General business risk means the risk that the operator of a financial market infrastructure will incur losses that are not directly linked to the default of a participant or to other credit and liquidity risks. General business risk also includes the risk of financial losses arising from operational or strategic risks;
17. ²⁰ Capital means Common Equity Tier 1 (CET1) capital pursuant to Articles 21–26 of the Capital Adequacy Ordinance of 1 June 2012²¹;
18. ²² Net liquidity means readily available assets, minus short-term liabilities;
19. ²³ Extreme but plausible market conditions are determined on the basis of the largest price fluctuations which have been observed over the last 30 years, or which are considered possible in the future.
The National Bank shall define further terms in the Annex to this Ordinance and in the reporting forms.
The definitions used in the regulations of the Swiss Financial Market Supervisory Authority (FINMA) on bank accounting²⁴shall also apply.²⁵

SR 952.0 ↩
Amended by No I of the SNB O of 31 Oct. 2019, in force since 1 Jan. 2020 (AS 2019 3909). ↩
SR 954.1 ↩
Amended by No I of the SNB O of 31 Oct. 2019, in force since 1 Jan. 2020 (AS 2019 3909). ↩
Amended by No I of the SNB O of 31 Oct. 2019, in force since 1 Jan. 2020 (AS 2019 3909). ↩
SR 951.31 ↩
Amended by No I of the SNB O of 10 June 2013, in force since 1 July 2013 (AS 2013 1987). ↩
SR 961.01 ↩
SR 831.40 ↩
Amended by No I of the SNB O of 26 Nov. 2015, in force since 1 Jan. 2016 (AS 2015 5307). ↩
SR 958.1 ↩
Amended by No I of the SNB O of 26 Nov. 2015, in force since 1 Jan. 2016 (AS 2015 5307). ↩
Repealed by No I of the SNB O of 26 Nov. 2015, with effect from 1 Jan. 2016 (AS 2015 5307). ↩
Inserted by No I of the SNB O of 10 June 2013 (AS 2013 1987). Amended by No I of the SNB O of 26 Nov. 2015, in force since 1 Jan. 2016 (AS 2015 5307). ↩
Inserted by No I of the SNB O of 10 June 2013 (AS 2013 1987). Amended by No I of the SNB O of 26 Nov. 2015, in force since 1 Jan. 2016 (AS 2015 5307). ↩
Inserted by No I of the SNB O of 10 June 2013 (AS 2013 1987). Amended by No I of the SNB O of 26 Nov. 2015, in force since 1 Jan. 2016 (AS 2015 5307). ↩
Inserted by No I of the SNB O of 10 June 2013 (AS 2013 1987). Amended by No I of the SNB O of 26 Nov. 2015, in force since 1 Jan. 2016 (AS 2015 5307). ↩
Inserted by No I of the SNB O of 10 June 2013, in force since 1 July 2013 (AS 2013 1987). ↩
Inserted by No I of the SNB O of 10 June 2013, in force since 1 July 2013 (AS 2013 1987). ↩
Inserted by No I of the SNB O of 10 June 2013 (AS 2013 1987). Amended by No I of the SNB O of 26 Nov. 2015, in force since 1 Jan. 2016 (AS 2015 5307). ↩
SR 952.03 ↩
Inserted by No I of the SNB O of 10 June 2013, in force since 1 July 2013 (AS 2013 1987). ↩
Inserted by No I of the SNB O of 10 June 2013, in force since 1 July 2013 (AS 2013 1987). ↩
FINMA Accounting O of 31 Oct. 2019 (SR 952.024.1 ), as well as FINMA Circular 2020/1 ‘Accounting – Banks’ of 31 Oct. 2019. ↩
Amended by No I of the SNB O of 2 July 2020, in force since 1 Jan. 2021 (AS 2020 4627). ↩

Art. 2

Footnotes