Swiss Debt Markets

Henri B. Meier (), John E. Marthinsen (), Pascal A. Gantenbein () and Samuel S. Weber ()
Additional contact information
Henri B. Meier: HBM Sekretariat
John E. Marthinsen: Babson College
Pascal A. Gantenbein: University of Basel

Chapter Chapter 8 in Swiss Finance, 2023, pp 411-453 from Springer

Abstract: Abstract The stable Swiss franc currency, low-interest rates, high market liquidity, and long-term funding opportunities have made Swiss debt markets an attractive source of capital for borrowers, such as businesses, governments, and supranational organizations. The exceptionally well-developed long-term debt market has reduced the need for short-term financing and has proven highly resilient during times of turmoil. Today, Switzerland has a non-public borrowers’ market that is larger than the public borrowers’ segment, partly due to the federal debt brake. A distinctive feature is the Pfandbrief market which has remained loss-free during its 90-year history. While the share of foreign bonds has decreased over time, Sustainable Bonds, comprising Green Bonds, Social Bonds, and bonds linked to sustainability have emerged as a new important bond type.

Keywords: Swiss debt brake; Pfandbrief system; Debt market; SIX Swiss Exchange; COVID-19 loans (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-3-031-23194-0_8

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