The Swiss Financial Market Supervisory Authority has published a new ordinance on the liquidity of banks and securities firms, moving requirements from its existing circular into ordinance form to meet the regulatory format requirement under Article 7 paragraph 1 of the Financial Market Supervision Act. The new FINMA Ordinance on the Liquidity of Banks and Securities Firms replaces Circular 2015/2 on liquidity risks at banks. Most of the change is a transfer of existing rules rather than a broad policy rewrite. FINMA said the limited substantive amendments concern information to be provided in cases of emerging or occurred liquidity shortages, and liquidity and financial planning. Those topics will also be incorporated into the Federal Council’s Liquidity Ordinance, with FINMA setting the related technical implementing provisions. FINMA noted that the majority of responses to its consultation from 3 July 2025 to 29 September 2025 supported the transfer. The new ordinance enters into force on 1 January 2027, when FINMA Circular 2015/2 will be repealed.
Swiss Financial Market Supervisory Authority (FINMA)2026-07-07
Swiss Financial Market Supervisory Authority issues liquidity ordinance for banks and securities firms effective 1 January 2027
The Swiss Financial Market Supervisory Authority has issued a new liquidity ordinance for banks and securities firms, replacing Circular 2015/2 and moving the framework into ordinance form. The main substantive changes cover information duties during liquidity shortages and liquidity and financial planning. The ordinance takes effect on 1 January 2027, when the existing circular will be repealed.