Central mortgage bond institutions
Switzerland’s central mortgage bond institutions are supervised by SFMA on the basis of auditing and reporting conducted by licensed audit firms.
- Mortgage Bond Act
- Mortgage Bond Ordinance
Unique protective measures
Indirect supervision
SFMA is responsible for supervising both of these institutions on an ongoing basis for which it relies largely on the auditing and reporting conducted by external audit firms. Audit firms are commissioned in particular with:
- financial reporting rules
- articles of association and regulatory requirements
- legal requirements for issuing mortgage bonds and granting loans
- legal requirements for covering mortgage bonds and loans
- legal requirements for estimating property values and calculating loan-to-value ratios.