CapLaw-2012-34

On 1 June 2012, the Federal Council adopted a package of measures with the objective of strengthening Switzerland’s banking centre. The package includes the adoption of a total revision of the Capital Adequacy Ordinance, which requires banks to comply with the new capital adequacy rules promulgated by the Basel Committee on Banking Supervision (Basel III) from 1 January 2013 (over a phase-in period of five years). Furthermore, the revised Capital Adequacy Ordinance and the partially revised Banking Ordinance contain the implementing provisions of the too-big-to-fail legislation, which was enacted by Parliament on 30 September 2011. Under the new rules, systemically…