The hearing on the total revision of the Banking Ordinance resulted in broadly-based support for the bill. The improved structure of the ordinance was welcomed. In addition, the revision of the accounting standards were welcomed in principle. In isolated cases, individual provisions on the definition of public funds, the new accounting standards and the definition of unclaimed assets were criticised. The vast majority of the concerns of the hearing participants were able to be taken into account. The minimum requirements for the annual financial statements of the banks will now be set out in an appendix to the Banking Ordinance.
The amendments to the Banking Act on unclaimed assets and the totally revised Banking Ordinance will enter into force on 1 January 2015.
Address for enquiries:
Roland Meier, Media Spokesperson FDF
tel. +41 31 322 60 86, roland.meier@gs-efd.admin.ch
Publisher:
The Federal Council
Internet: http://www.admin.ch/br/index.html?lang=en
Federal Department of Finance
Internet: http://www.efd.admin.ch
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