I. Basel Core Principles for Effective Banking Supervision; Information and methodology used for assessment; Institutional and macroprudential setting, market structure overview; General preconditions for effective banking supervision; Principle-by-principle assessment; Text Tables; Recommended action plan and authorities' response to the assessment; II. IOSCO Objectives and Principles of Securities Regulation; Institutional Setting and Market Structure; Principle-by-Principle Assessment; Recommended action plan and authorities' response to the assessment
III. IAIS Insurance Core PrinciplesInformation and methodology used for assessment; Institutional and macroprudential setting-overview; General preconditions for effective insurance supervision; Principle-by-principle assessment; Recommended action plan and authorities' response to the assessment; IV. CPSS Core Principles for Systemically Important Payment Systems; Information and methodology used for assessment; Institutional and market structure-Overview; Payment systems infrastructure; Principle-by-principle assessment; Recommended action plan and authorities' response to the assessment
v. IMF Code of Good Practices on Transparency in Monetary and Financial PoliciesA. Transparency of Monetary Policy; Information and methodology used for assessment; Institutional and market structure-overview; Practice-by-practice assessment; Recommended action plan and authorities' response to the assessment; B. Transparency of Financial Policies-Banking and Securities; Practice-by-practice assessment; Recommended action plan and authorities' response to the assessment; C. Transparency of Financial Policies-Insurance; Practice-by-practice assessment
Recommended action plan and authorities' response to the assessmentD. Transparency of Financial Policies-Pensions; Practice-by-practice assessment; Recommended action plan and authorities' response to the assessment; E. Transparency of Financial Policies-Payment Systems; Practice-by-practice assessment; Recommended action plan and authorities' response to the assessment
Summary
This paper discusses key findings of the detailed assessment of observance of financial sector standards and codes in Switzerland. Switzerland has a relatively unique banking sector, with a high market concentration by the two largest domestic banks. The overall assessment of the peer-review team is that Switzerland is generally in compliance with the Basel Core Principles with two exceptions where the Swiss Federal Banking Commission (SFBC) is deemed largely compliant. The two exception areas are budgetary independence and banking activities not subject to SFBC supervision
