In order to implement the Basel III regime, FINMA has made changes to certain aspects of four of its circulars. Those changes enter into force on 1 January 2014, with a period of transition being granted until 30 June 2014. In addition, disclosure requirements based on data as of 31 December 2013 have been slightly amended, in particular with regard to the countercyclical capital buffer.
On 10 May 2013 FINMA published detailed information on its website regarding certain changes being made to four of its circulars that come into force on 1 January 2014. The circulars concerned are FINMA-Circ. 08/19 "Credit risks – banks", 08/20 "Market risks – banks", 08/22 "Capital adequacy disclosures – banks" and 13/1 "Eligible equity capital – banks". Moreover, disclosure requirements based on data as of 31 December 2013, particularly those relating to the countercyclical capital buffer, have been slightly amended. The four circulars modified have now been published. The accompanying explanatory report (in German and French) expands upon the changes made and illustrates through an example how the disclosure requirements are to be implemented.