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    SNB Updates Reporting Forms while FINMA Lifts Measures on Sberbank

    July 01, 2022

    The Swiss National Bank (SNB) published the reporting form (Form ARIS 5.13) and related documentation for counterparty solvency risk in the interbank sector, with the form becoming valid from June 30, 2022. SNB also published reporting forms (LSIB_G and LSIB_P), for both parent and group/single entities, on special liquidity requirements for systemically important banks (LSIB), for which the reporting will be valid from October 31, 2022. In addition, the Swiss Financial Market Supervisory Authority (FINMA) has temporarily lifted protective measures for Sberbank (Switzerland) AG to settle claims of non-sanctioned creditors.

    Below are the key highlights of the recent updates:

    • The data collection on counterparty solvency risk in the interbank sector is aimed at analyzing interlinkages in the interbank sector, with the aim to identify and monitor systemic risks. The form covers recording of the ten or twenty largest claims and liability positions vis-à-vis other banks or bank groups in Switzerland and abroad. The accompanying documentation explains the changes in Release 5.13 of the form, in comparison to the previous version of the form. This form has a quarterly reporting frequency and must be submitted within six weeks after the reference date. Reporting institutions include all banks and bank groups, except foreign bank branches in Switzerland.
    • The reporting forms LSIB_G and LSIB_P cover special liquidity requirements (for parent and group/single entities) of systemically important banks. These forms have a monthly reporting frequency and must be submitted within 15 days after the reference date. The reporting institutions (or systemically important banks) will report data either on a single entity basis or on a consolidated basis (or financial group). The forms incorporate revision of the Liquidity Ordinance and the introduction of special liquidity requirements for systemically important banks.
    • Another update involves FINMA temporarily lifting some of the protective measures and enabling Sberbank (Switzerland) AG to settle due claims of its non-sanctioned creditors and make corresponding payments from July 01, 2022 to July 05, 2022. The bank has successfully stabilized its financial situation under FINMA supervision and the international sanctions in force permit such payments. The payments will enable the bank to reduce its balance sheet, with a view to a possible sale or change of ownership.

     

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    Keywords: Europe, Switzerland, Banking, Solvency Risk, Systemic Risk, Counterparty Credit Risk, Basel, Credit Risk, Large Exposures, Liquidity Risk, LSIB, SIB, Reporting, Liquidity Ordinance, Liquidity Requirements, Sberbank, FINMA, SNB

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