The Swiss Financial Market Supervisory Authority has published a revised circular on disclosure for banks. The circular has been adjusted to meet more stringent international standards.

In addition to capital and liquidity standards, the international Basel III regime dictates that banks must send their regulators information about risks and risk management, equity capital and liquidity standards in order to promote 'market discipline.' As the previous disclosure standards did not allow for a proper comparison of risk situations between banks, FINMA Circular 2016/01 (entitled “Disclosure – banks”) is now in the public domain. The main aim is to increase the comparability of institutions, partly by means of new, standardised templates for disclosure.

FINMA, rather enigmatically, has published two dates on which banks must obey the new circular. It says that it "comes into force" on 1 January 2016, but also says that all Swiss banks must comply with the revised standards that it implements by 31 December 2016. Nobody was on hand to explain this by press time.

The 35 biggest banks in Switzerland must obey the international disclosure standards in full, or justify and explain in detail why they are foregoing disclosure and not providing information. The remaining 90% of Swiss banks must also disclose information in accordance with those standards, but "in a smaller scope" and less frequently; they also have longer transition periods.