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Statement from the Swiss Bankers Association on the Swiss Federal Council’s increase of the anti-cyclical capital buffer

  • The SBA is disappointed by today's decision by the Swiss Federal Council to increase the anti-cyclical capital buffer.
  • The SBA remains convinced that this is not an effective means of controlling property prices: among other considerations, its impact is much too broad and it has not been tested in reality. As such, uncertainties over its impact on the economy as a whole are high.
  • However, the SBA has long recognised that the Swiss real estate market does have a tendency to overheat in certain areas. That is why the banks have more than a year ago given their support to measures to damp it down. The SBA would have liked the Federal Council to undertake a joint situation analysis, instead of taking this unilateral action. The SBA would also have liked the system of self-regulation to have been allowed more time for its impact on the real estate and mortgage market to be established.
  • The SBA expects the anti-cyclical capital buffer to be deactivated as soon as the situation on the real estate market eases.