SNB’s Schlegel: SNB expands provision of liquidity for Swiss banks

Swiss National Bank (SNB) Vice Chairman Martin Schlegel said in prepared remarks for a press conference on Thursday that “the SNB expands provision of liquidity for Swiss banks.”

Additional comments

Now possible for all banks to obtain liquidity against securities; previously only applied to big banks.

Banks should be required to permanently hold collateral to obtain SNB liquidity.

These measures will further strengthen the Swiss banking sector.

Primary tool of the SNB will be interest rates, but forex interventions could be used if necessary.