Ordinance of the Swiss Financial Market Supervisory Authority on the Insolvency of Banks and Securities Dealers

¹Se­cur­it­ies and oth­er fin­an­cial in­stru­ments serving as col­lat­er­al need not be sur­rendered provided the leg­al con­di­tions for the col­lat­er­al re­cip­i­ent to take re­spons­ib­il­ity for their real­isa­tion are met.

²However, these as­sets must be re­por­ted, to­geth­er with proof of the right to real­ise them, to the bank­ruptcy li­quid­at­or, who shall make a note of them in the in­vent­ory.

³The col­lat­er­al re­cip­i­ent must agree a set­tle­ment with the bank­ruptcy li­quid­at­or over the pro­ceeds from the real­isa­tion of these as­sets. Any sur­plus ac­crues to the bank­ruptcy as­sets.