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RS 941.16 Federal Order of 1er March 2011 approving the accession of Switzerland to the New Modified International Monetary Fund Borrowing Arrangements

Original Language Title: RS 941.16 Arrêté fédéral du 1er mars 2011 portant approbation de l’adhésion de la Suisse aux Nouveaux accords d’emprunt modifiés du Fonds monétaire international

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941.16

Federal Order approving the accession of Switzerland to the International Monetary Fund's New Modified Borrowing Arrangements

Of 1 Er March 2011 (State on March 11, 2011)

The Swiss Federal Assembly,

Having regard to art. 54, para. 1, and 166, para. 2, of the Constitution 1 , given the message of the Federal Council of 8 September 2010 2 ,

Stops:

Art. 1

1 Switzerland's Accession to the New Modified Borrowing Arrangements (NAE) of the International Monetary Fund (IMF) of 12 April 2010 1 Is approved.

2 The Federal Council is authorized to implement Switzerland's accession to the IMF's NAE. It shall decide before the expiry of each period of contractual validity, and of an agreement with the Swiss National Bank (SNB), to extend or terminate the participation of Switzerland.

3 The SNB participates in the NAE on behalf of Switzerland. It works closely with the Confederation in the implementation of NAE participation. The terms and conditions are settled by an agreement between the Federal Council and the SNB. The Federal Council informs the Federal Chambers on Switzerland's participation in the NAE.

4 The funds allocated by the SNB under the NAE are not guaranteed by the Confederation.

1 RS 0.941.16 . The NAE, which entered into force on 11 March 2011.

Art. 2

Upon entry into force of the NAE, this Order replaces the Federal Order of 18 December 1997 concerning the accession of Switzerland to the New Arrangements to Borrow the International Monetary Fund 1 .

1 [ RO 2002 3613 ]

Art. 3

This Order is not subject to the referendum provided for in international treaties.


RO 2011 2305

1 RS 101
2 FF 2010 5541

Status on March 11, 2011