Switzerland: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management Arrangements
IMF Staff Country Reports, November 13, 2025
Source details
- Canonical URL
- Switzerland: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management Arrangements
Other formats
Bibliographic details
- Published: November 13, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229031172.002
Executive summary / key findings
- A strong legal framework and a well-coordinated financial safety net are of critical importance for the stability of the Swiss financial system.
- The Swiss National Bank (SNB), the Swiss Financial Market Supervisory Authority (FINMA), and the Federal Department of Finance (FDF) play vital roles in:
- overseeing monetary policy,
- supervising financial markets, and
- implementing financial stability policies and measures.
- The efforts of the SNB, FINMA, and FDF for a coordinated approach to preventing and containing future crises need to be stepped up and backed by a stronger legal framework.
Major themes and analysis
- Institutional roles and responsibilities
- SNB: monetary policy and lender-of-last-resort functions relevant to financial stability and liquidity support.
- FINMA: supervision of financial markets and resolution authority responsibilities.
- FDF: fiscal and legal policy leadership relevant to crisis management arrangements.
- Legal framework
- The note emphasizes the need for a stronger legal foundation to support coordinated crisis prevention and containment measures.
- Crisis management and financial safety net components
- Focus areas include collateral, liquidity support, lender of last resort arrangements, and crisis management/ resolution tools.
- The document addresses implications from recent cases such as Credit Suisse in its consideration of crisis management arrangements.
Policy recommendations (summary)
- Strengthen the legal framework underpinning crisis management to clarify authorities, tools, and coordination mechanisms among SNB, FINMA, and FDF.
- Enhance coordination processes among the SNB, FINMA, and FDF for prevention, preparedness, and response to financial crises.
- Ensure operational readiness for liquidity support and resolution measures, including clear collateral and infrastructure arrangements.
Subject matter and keywords
- Subject: Collateral, Crisis management, Financial crises, Financial institutions, Financial sector policy and analysis, Financial sector stability, Lender of last resort
- Keywords: Collateral, credit Suisse, Crisis management, Financial sector stability, Global, IMF staff, infrastructure ordinance, Lender of last resort, liquidity support, staff team
Content in this bundle
- 1cheea2025006-source-pdf