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Swiss National Bank Regulation

 

 

Regulation on the Organization of the Swiss National Bank

(May 14, 2004) – English Translation of the Content and Articles 3, 4, 10, 12, 18 and 25

 

 

Section 1                    General Provisions

              Article 1               Objective

              Article 2               Relationship with the Other Regulations

 

Section 2                    Internal Organization

 

              Article 3               Departments

 

(1) The Swiss National Bank is composed of three departments.  Each department has a clear scope of activity.

(2) [not translated]

(3) Each Department is operated by a member of the Direction General, and the 1st department is operated by the president of the Direction General.

(4) [not translated]

 

              Article 4               Scopes of Activity

 

(1) The scope of activity of the 1st department contains the international matters, the economic matters, the legal matters and the services, the personnel and the communication.

(2) The scope of activity of the 2nd department contains the bills and monies, the finances and the controlling, the systemic stability and the supervision of systems, and the security.

(3) The scope of activity of the 3rd department contains the financial markets, the asset management, the strategy of investment and risk control, the banking operations, and the information technology.

 

              Article 5               Secretariat General

              Article 6               Internal Revision

              Article 7               Branches and Representatives

 

Section 3                    General Meeting

              Article 8               Constitution

              Article 9               Quorum

 

Section 4                    Banking Council

 

              Article 10             Functions

 

(1) The Banking Council supervises and controls the operation of the business of Swiss National Bank.

(2) In addition to the functions specified in Article 42, al. 2, LBN, the Banking Council is in charge of:

              a. approval of the material changes in the internal organization;

              b. evaluation of risk control and supervision of its operation;

              c.-o. [not translated]

(3) The Banking Council decides all the matters that the law or the regulation on organization does not assign to any other authority.

 

              Article 11             Audit Committee

              Article 12             Risk Committee

 

(1) The Banking Council establishes a Risk Committee.  The Risk Committee is composed of at least two members of the Banking Committee.

(2) [not translated]

 

              Article 13             Remuneration Committee

              Article 14             Nomination Committee

              Article 15             Right to Information and Obligation to Inform

              Article 16             Sessions

              Article 17             Agenda and Minute

 

Section 5                    Direction General

 

              Article 18             Functions

 

(1) The Direction General is a collegial authority.  It is the supreme executive organ of the Swiss National Bank.  It represents the Swiss National Bank to the public and implements the obligation to make report prescribed in Article 7 LBN.

(2) [not translated]

 

              Article 19             Sessions

              Article 20             Agenda and Minute

 

Section 6                    Extended Direction General

 

              Article 21             Composition

 

The Extended Direction General of the Swiss National Bank is composed of the members of the Direction General and their deputies.

 

              Article 22             Functions

              Article 23             Sessions

              Article 24             Agenda and Minute

 

Section 7                    Other Provisions

 

              Article 25             Titles

 

(1) The members of the Direction General take the following titles:

              a. president of the Direction General;

              b. vice-president of the Direction General;

              c. member of the Direction General.

(2) The deputies of the members of the Direction General take the title of deputy member of the Direction General.

 

              Article 26             Recusation

              Article 27             Provisions related to the Resignation of Members of Banking Council

              Article 28             Going into Effect

 

*This is just an unofficial translation of a part of the law.  For an original, complete text, visit the governmentfs site.

 

àBooks on Switzerland [Law – Company, Finance, etc.]

[Banking]

 

àPrivate Salon Conference for Hedge Funds

àTranslation of Fund Prospectus, Offering Memorandum, etc.

 

English Translations of Swiss Banking Laws

  Swiss National Bank Regulation  Swiss Banking Law  Swiss Money Laundering Ordinance

English Translations of Luxembourg Financial Laws

  Trust and Fiduciary Contracts Law  Amended Collective Investment Organization Law  Investment Services Law  Collective Investment Organization Law

 

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