SNB released a statement providing information with respect to recording of COVID-19 credit and refinancing facility loans in various statistical surveys ("Information about registration in MONA_X, KRED, KREDZ, MIRE and ASTA"). To ensure a consistent recording of COVID-19 credit and CRF loans in various statistical surveys from the reference date of March 31, 2020, institutions are requested to take into account the information in the SNB statement.
To support businesses amid COVID-19 pandemic, the Swiss Federal Council decided to grant them loans by joint guarantee (COVID-19 credits). SNB also established s COVID-19 refinancing facility (CRF), which allows banks to obtain liquidity from SNB by assigning credit claims from corporate loans as collateral. In doing so, SNB enables banks to expand their lending rapidly on a large scale.
Related Link: SNB Statement (PDF in French)
Keywords: Europe, Switzerland, Banking, COVID-19, Reporting, Credit Risk, CRF, Credit and Refinancing Facility, Swiss Federal Council, SNB
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