Aggregated News From Investment Management Regulators

FINMA Guidance 06/2020: extension or discontinuation of exemptions due to the COVID-19 crisis

Report/Flag

Please complete the required fields.



The Swiss Financial Market Supervisory Authority FINMA is publishing further guidance in the context of the COVID-19 crisis containing adjustments to the periods for various exemptions already granted and specifying in more detail how the net stable funding ratio (NSFR) is calculated.

In Guidance 06/2020 of 19 May 2020, FINMA adjusts the periods of various exemptions already granted. Clients are continuing to hold unusually large deposits with Swiss banks. FINMA is therefore extending the exemption for the calculation of the leverage ratio (exclusion of central bank reserves) for all banks until 1 January 2021 (previously 1 July 2020). As there is no longer any broad use being made of the exemptions concerning risk diversification at banks, these are not being extended. However, institutions can request specific exemptions in individual cases. The exemption concerning market risks is to be incorporated into future supervisory practice. FINMA has granted exemptions in the area of anti-money laundering for the opening of new client relationships. These will be extended for specific situations, in particular for foreign clients, in order to return gradually to the normal opening procedure. FINMA is also setting out in more detail the handling of durations for loans procured as part of the SNB’s COVID-19 refinancing facility (CRF) for calculating the net stable funding ratio (NSFR).

Regulator Information

Abbreviation: FINMA
Jurisdiction: Switzerland

Recent Articles

Ernesto A. Lanza Named Acting Director of SEC Office of Municipal Securities

Washington, D.C., Dec. 3, 2021 — The Securities and Exchange Commission today announced that Ernesto A. Lanza will serve as Acting Director of the Office of Municipal Securities (OMS). Mr.

Tender regarding the ‘Provision of services of two Office Admins/Telephone Operators

The Cyprus Securities and Exchange Commission (‘CySEC’) wishes to announce that it has issued the public Tender No. 19/2021 for the ‘Provision of services...

Nexus IFA (Clone of FCA Authorised Firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

Blanket Order 52-503 – Exemption from National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure

Regulated Industries FCNB is responsible for the regulation and enforcement of securities, insurance, pensions, credit unions, trust and loan companies, co-oper

Deutsche Wallet (Clone of FCA Authorised Firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

Get the latest from Regulatory.News in your inbox!

×