BIS: Regulatory consistency assessment programme (RCAP) – assessment of Basel III regulations – Switzerland

BIS has published this report which evaluates compliance of Switzerland's domestic capital rules vis-à-vis international Basel capital standards through its RCAP. Authors of the report held technical discussions with senior officials and staff of FINMA, and met with senior representatives from banks and regulatory audit firms based in Switzerland. The assessment found implementation closely aligned with Basel III standards and therefore assessed it as "compliant". 11 out of 14 assessed components were found to be "compliant", while three of the components were graded "largely compliant" (definition of capital, credit risk-IRB, and Pillar 3). Although some differences with the Basel framework were found in these three areas, none of the findings were evaluated to be material at this point.