Switzerland: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Switzerland.
May 26, 2011
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Although progress has been made in strengthening the Swiss economy, systemic risks posed by large banks as well as revisions to the macroprudential framework are still in train. The authorities welcomed the too-big-to-fail (TBTF) legislation and intervention of the Swiss National Bank (SNB) on strengthening financial sector stability, and stressed the need of a strong macroprudential framework and a legal framework with regard to crisis prevention. The authorities supported adherence to the Swiss debt brake rule, and emphasized that sustainability of public finances should be further improved.
Subject: Banking, Exchange rates, Exports, Financial crises, Financial institutions, Income, Insurance companies, International trade, Mortgages, National accounts
Keywords: appreciation, capital, CR, Exports, federal budget, FINMA, foreign direct investment, GDP, Global, Income, information exchange, Insurance companies, ISCR, Middle East, monetary policy stance, Mortgages, net trade contribution, staff's assessment
Pages:
62
Volume:
2011
DOI:
Issue:
115
Series:
Country Report No. 2011/115
Stock No:
1CHEEA2011001
ISBN:
9781455284603
ISSN:
1934-7685
