Switzerland’s SIX notes in a blog post that the market launch of instant payments in the European nation has been announced. As explained in the update shared by SIX, instant payments were “launched in the Swiss market on 20 August 2024.” Around 60 financial institutions… Read More
In the Spring of 2023, the Swiss National Bank conducted its second payment methods survey of companies in Switzerland. Around 1,750 companies, across all sizes, language regions and industries, participated in this survey on payment method topics. In-depth knowledge of these topics helps the SNB… Read More
The Swiss National Bank said on Thursday it will start a pilot project next month using central bank digital currency (CBDC) for financial institutions. The project, named Helvetia Phase III, will involve the use of wholesale CBDC on the SIX Digital Exchange (SDX) platform, a… Read More
SIX Terravis, SIX’s digital platform for the mortgage market, is contributing to the planned expansion of the Swiss National Bank’s (SNB) liquidity provision framework for the banking sector. Recent experiences show that banks of all sizes and “with different business models can find themselves in… Read More
The Swiss National Bank (SNB) announced today that it is not currently making any changes to the policy rate. However, PostFinance is continuing to “enable its customers to participate in the positive interest rate environment and is increasing the interest rate on the retirement savings… Read More
The Swiss Financial Market Supervisory Authority FINMA has approved the acquisition of Credit Suisse by competitor UBS. The move was announced earlier today as Credit Suisse had endured a difficult week after rumblings of financial challenges at the bank. On March 15, FINMA issued a… Read More
Credit Suisse (NYSE:CS) has taken “decisive action” to buttress its balance sheet by tapping into a CHF 50 billion ($54 billion) loan from the Swiss National Bank. (SNB) In recent days, shares of Credit Suisse had been hammered by speculation that the bank was in… Read More
The Swiss Financial Market Supervisory Authority (FINMA) and the Swiss National Bank (SNB) have issued a joint statement on “market uncertainty.” The statement follows the rapid decline in the share value of Credit Suisse (NYSE:CS). The global bank is viewed as the worst home in… Read More
The Swiss National Bank (SNB) has successfully tested wholesale CBCD [central bank digital currency] settlement in a partnership with the Bank for International Settlements (BIS) and SIX (parent of the Swiss Stock Exchange). The test was completed during Q4 2021. The project utilized SDX, the… Read More
A grouping of prominent central banks along with the Bank for International Settlements, have joined together to review the potential for Central Bank Digital Currencies (CBDCs). The banks and organizations include: the Bank of England, Bank of Canada, Bank of Japan, European Central Bank (ECB), … Read More
The Bank for International Settlements (BIS) has teamed up with the Swiss National Bank (SNB) in order to work on a Switzerland-based innovation hub that will initially conduct research into central bank digital currencies (CBDCs) and distributed ledger technology (DLT). Financial services provider SIX is… Read More
The emergence of cryptocurrency and initial coin offerings has helped to bring Switzerland back into the lime light when it comes to financial services. Once a noted haven for “numbered” bank accounts and strict anonymity rules, the Swiss banking industry has dimmed in recent years… Read More
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