FINMA Circular 2016/01 (disclosure requirements relating to capital adequacy and liquidity) requires systemically important banks to submit a special quarterly disclosure (paragraphs 49 - 53). By virtue of the order of 16 June 2014 issued by the Swiss National Bank, Raiffeisen is also systemically important within the meaning of the Banking Act.
On the basis of this decision, the Swiss Financial Market Supervisory Authority (FINMA) issued a decision on 24 July 2015, stipulating the specific requirements to be met by the systemically important Raiffeisen Group and systemically important Raiffeisen Switzerland.
FINMA also referred to disclosure obligations in this decision. This establishes that Raiffeisen Switzerland continues to benefit from the consolidation rebate referred to in FINMA Circular 2016/01, marginal note 11 (disclosure requirements relating to capital adequacy and liquidity), also bearing in mind the bank's systemic importance.
As a nationally system-relevant bank, Raiffeisen Group is also subject to the new provisions for «too-big-to-fail» banks that were adopted by the Federal Council on 11 May 2016 and took effect on 1 July 2016.
The provisions applicable to systemic importance include both risk-weighted and unweighted capital adequacy requirements (leverage ratio). They represent a parallel calculation to the capital adequacy calculation under FINMA Circular 2011/2, which is still required.
Reports on the capital adequacy situation and requirements under the rules governing systemic importance will be updated on a quarterly basis. Capital adequacy is reported in full twice a year and is also included in the annual report of the Raiffeisen Group at year-end.