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Art. 47c – Rejection of application

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Art. 47c

Rejection of application

FINMA may reject the application for simplifications if:

a.

the prerequisites under Articles 47a and 47b are not met;

b.

it has taken supervisory measures against the bank in question, proceedings have been initiated under Article 30 of the Financial Market Supervision Act of 22 June 200793 (FINMASA) or the bank has not taken measures to restore compliance in accordance with Article 31 of the FINMASA in the following areas:

1.

the code of conduct under the Financial Services Act of 15 June 201894,

2.

market rules of conduct under the Financial Market Infrastructure Act of 19 June 201595,

3.

anti-money laundering and terrorist financing under the Anti-Money Laundering Act of 10 October 199796,

4.

cross-border transactions;

c.

interest rate risk management is insufficient or the interest rate risk is inappropriately high in relation to Tier 1 capital, net interest income or risk-bearing capacity, taking all risks into account.

  1. 93 SR 956.1
  2. 94 SR 950.1
  3. 95 SR 958.1
  4. 96 SR 955.0
Legal act context
SR 952.03 · CAO · Ordinance · Ordinance of 1 June 2012 on the Capital Adequacy and Risk Diversification of Banks and Securities Firms (Capital Adequacy Ordinance, CAO)
Structure path
Title 3 Required Capital Chapter 1a Simplifications for Particularly Liquid and Well-Capitalised Banks in Categories 4 and 5
Language
English (en)
Data status
2025-01-24

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