Switzerland: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Switzerland

International Monetary Fund

No 2011/115, IMF Staff Country Reports from International Monetary Fund

Abstract: Although progress has been made in strengthening the Swiss economy, systemic risks posed by large banks as well as revisions to the macroprudential framework are still in train. The authorities welcomed the too-big-to-fail (TBTF) legislation and intervention of the Swiss National Bank (SNB) on strengthening financial sector stability, and stressed the need of a strong macroprudential framework and a legal framework with regard to crisis prevention. The authorities supported adherence to the Swiss debt brake rule, and emphasized that sustainability of public finances should be further improved.

Keywords: ISCR; CR; FINMA; foreign direct investment; appreciation; capital; GDP; monetary policy stance; staff's assessment; net trade contribution; federal budget; information exchange; Mortgages; Exports; Income; Insurance companies; Global; Middle East (search for similar items in EconPapers)
Pages: 62
Date: 2011-05-26
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