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

¹Un­der Art­icle 37a BankA priv­ileged de­pos­its are:

a.

cli­ent claims arising from bank­ing or se­cur­it­ies deal­ing op­er­a­tions that are booked or should be booked as li­ab­il­it­ies from cli­ent de­pos­its in the bal­ance-sheet;

b.

me­di­um-term notes booked as me­di­um-term notes in the bal­ance sheet that are de­pos­ited at the bank in the de­pos­it­or’s name.¹

²With­in the mean­ing of Art­icle 37a BankA priv­ileged de­pos­its are not:

a.

bear­er claims;

b.

me­di­um-term notes that are not held at the bank;

c.

con­trac­tu­al and non-con­trac­tu­al com­pens­a­tion claims such as com­pens­a­tion claims for cus­tody as­sets no longer at the bank’s dis­pos­al in ac­cord­ance with Art­icle 37d BankA.

³Claims on the part of bank found­a­tions un­der Art­icle 5 para­graph 2 of the Or­din­ance of 13 Novem­ber 1985² on Tax-de­duct­ible Con­tri­bu­tions to Re­cog­nised Forms of Re­tire­ment Pro­vi­sion and on the part of ves­ted be­ne­fits found­a­tions un­der Art­icle 19 para­graph 2 of the Ves­ted Be­ne­fits Or­din­ance of 3 Oc­to­ber 1994³ qual­i­fy as de­pos­its be­long­ing to the in­di­vidu­al pen­sion fund mem­bers and policy hold­ers. However, these claims shall be paid out to the re­spect­ive bank found­a­tion or ves­ted be­ne­fits found­a­tion.