Federal Council adopts total revision of Banking Ordinance and puts regulations regarding unclaimed assets into force

Bern, 30.04.2014 - At its meeting today, the Federal Council approved the total revision of the Banking Ordinance. This revision, together with the revised provisions of the Banking Act regarding unclaimed assets, will enter into force on 1 January 2015.

With the total revision of the Banking Ordinance, the new accounting legislation and the regulations regarding unclaimed assets adopted by parliament on 22 March 2013 will be implemented. Moreover, the Banking Ordinance was revised formally and editorially.

The hearing on the total revision of the Banking Ordinance resulted in broadly-based support for the bill. The improved structure of the ordinance was welcomed. In addition, the revision of the accounting standards were welcomed in principle. In isolated cases, individual provisions on the definition of public funds, the new accounting standards and the definition of unclaimed assets were criticised. The vast majority of the concerns of the hearing participants were able to be taken into account. The minimum requirements for the annual financial statements of the banks will now be set out in an appendix to the Banking Ordinance.

The amendments to the Banking Act on unclaimed assets and the totally revised Banking Ordinance will enter into force on 1 January 2015.

Address for enquiries

Roland Meier, Media Spokesperson FDF
tel. +41 31 322 60 86, roland.meier@gs-efd.admin.ch


The Federal Council

Federal Department of Finance