National cooperation in recovery and resolution

SFMA regularly liaises with the Swiss National Bank (SNB) and the Federal Department of Finance (FDF), and not just on the topic of crisis prevention. SFMA is also involved in the regulatory process by way of cross-authority working groups.

The most important national partners in the area of recovery and resolution are the SNB and the FDF. The cooperation with both authorities is also formalised in two Memoranda of Understanding (MoUs):

The Memorandum of Understanding between the FDF, SFMA and the SNB on the exchange of information and opinions and on cooperation in the area of financial stability and financial market regulation.
The Memorandum of Understanding between SFMA and the SNB on financial stability. It defines the tasks of the two institutions, describes their common areas of interest and governs their collaboration.

Documents

Memorandum of Understanding

In the area of financial stability and the exchange of information on financial market regulation between the Federal Department of Finance (FDF) and the Financial Market Supervisory Authority (SFMA) and the Swiss National Bank (SNB) on trilateral cooperation between the Swiss financial market authorities

Memorandum of Understanding in the field of financial stability between the Swiss Financial Market Supervisory Authority SFMA and the Swiss National Bank SNB

As an independent supervisory authority for the Swiss financial market, SFMA is also involved in national political and legislative processes relating to its areas of responsibility. In the area of recovery and resolution, for example, this includes the legislative work on the “too big to fail” rules (see ‘Switzerland’s “too big to fail” regime’), where SFMA contributes its expertise and concerns to working groups and consultation procedures.