Circular 2015/1 Accounting – banks

The FINMA-Circ. 15/1 replaces the former FINMA-Circ. 08/2. Its purpose is to complement and specify the provisions on keeping accounts and filing financial reports set out by the revised version of the Swiss Code of Obligations, the revised Banking Act and the revised Banking Ordinance. The revised circular introduces also changes with respect to presentation requirements applicable to the structure and the content of the income statement, the balance sheet and the notes. The new Circular is binding for financial periods commencing on or after 1 January 2015. The interim financial statements 2015 can still be published in accordance with the current requirements. Transitory provisions are applicable to some key areas like individual valuation and goodwill depreciation.

  • 5 Publication of final decree 03/14-12/14
  • 7 Enactment / transitional period 01/15-12/15
  • 8 Application of the rule of law 01/16-12/99
In force since 1 January 2015.


The main reason for the revision of the FINMA-Circ. 08/2 is the revision of the Swiss Code of Obligations that entered into force on 1 January 2013. Preparers should carefully analyse the impact of some new requirements like individual valuation of participations, fixed and intangibles assets and consider any relevant transitory provisions. Also, the impact of the new provisions on the structure of the financial statements and the notes should not be underestimated. FINMA is already working on an amendment to FINMA-Circ. 15/1 to include the expected-loss model approach.

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