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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 1^st 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 1^st 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 2^nd 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 3^rd 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