Cover IMF Staff Country Reports
Switzerland: Selected Issues Paper
Author: International Monetary Fund
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2011: Issue 116
Language:
English
Publication Date:
26 May 2011
DOI:
https://doi.org/10.5089/9781455284610.002
ISBN:
9781455284610
ISSN:
1934-7685
Pages:
43
Keywords:
ISCR; CR; FINMA Board; supervision; information gathering power; SNB work; exchange rate pass-through; department II; FINMA vis-à-vis; auditing power; Financial sector stability; Exports; Exchange rates; Legal support in revenue administration; Systemic risk; Global
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The paper assesses the competitiveness of Swiss exporters, and shows that the effect of nominal exchange rate on trade balance depends on the degree of exchange rate pass-through and on trade elasticities. It highlights that the degree of exchange rate pass-through should also be factored in monetary policy decisions. The authorities are considering legislative changes to strengthen macroprudential oversight by supporting the mutual cooperation between Financial Market Supervisory Authority (FINMA) and Swiss National Bank (SNB) over the financial stability. The scope of the too-big-to-fail (TBTF) proposal should also be broadened to address systematic risk.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund