The Swiss Financial Market Supervisory Authority (FINMA) is opening a
consultation on adapting FINMA Circular 11/2 "Capital buffer and capital planning – banks". The Circular, which has been in force since 1 July
2011, is based on provisions prescribed in the current Capital Adequacy
Ordinance (CAO) pertaining to the requirements for the quality of
capital needed for the capital buffer. To date, the quality of capital
defined in the CAO has been in accordance with Basel II. Since the CAO
is currently being fully revised and adjusted to incorporate the
modified definition of the term 'equity capital' as specified in the
Basel III reform package, it is also deemed necessary to change the
Circular appropriately. Comments on the proposed adjustments to the
Circular may be submitted up to 30 April 2012.
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