Switzerland: Financial Sector Stability Assessment; imf country Report 14/143; April 16, 2014

Prudential Requirements 
ICPs 18–23 
Maintain the momentum in implementing the SST as 
planned. 
Implemented. 
Markets and Consumers 
ICPs 24–27 
Introduce enhanced disclosure and market conduct 
requirements.
Plan for the effective implementation of the IAIS standards 
on public disclosures to facilitate market discipline. 
Partly implemented. 

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SWITZERLAND
INTERNATIONAL MONETARY FUND
43 
Table 9. Switzerland: Previous FSAP Findings and Key Recommendations—FMI 
Reference Principle 
Recommended Action 
Status 
Principle 7 of the CPSS Core 
Principles
Security and Operational 
Reliability, and Contingency 
Arrangements  
The SNB should analyze developments that are either 
planned or anticipated to occur during 2002, examining 
the contingency procedures of the Swiss Interbank 
Clearing (SIC) and the extraordinary liquidity sources of 
relevant currencies in plausible situations involving 
interruptions of operations in both the traditional and in 
the new (continuous linked) arrangements for foreign 
exchange (FX) settlements.
The SNB should continue to prepare for operational 
problems related to violent acts.
The SNB should consider hiring an accounting firm of its 
own choice to conduct occasional operations and security 
audits of SIC. 
Implemented. 
Responsibilities A-D of the 
CPSS Core Principles
Central Bank Responsibilities in 
Applying the Core Principles 
The SIC should continue its interaction with Deutsche 
Bundesbank with respect to the evolution of the euroSIC, 
in a manner consistent with the Lamfalussy Principles of 
Cooperative Central Bank Oversight of Cross-Border 
Netting and Settlement Systems.