Old banknotes can be exchanged in Switzerland, so far, indefinite. The Federal Council wanted to change this and the conversion period of 20 years to abolish. To apply the scheme for notes from the sixth series, launched in 1976, in circulation. Of the series of notes to the value of over 1 billion Swiss francs, according to Finance Minister Ueli Maurer still in circulation. The exchange period expires in may 2020.
From the point of view of the Federal Council is not under a deadline more time. The life expectancy had increased, and the mobility of the population have increased, the government argues. The repeal of the exchange period would prevent anyone own suddenly worthless to become banknotes.
The Federal Council also pointed to the rules in other countries. Banknotes of the internationally significant and world-traded currencies could in time be freely exchanged, he wrote in the message to Parliament.
Higher crime risk
The Council of States in November 2018, but is against the proposal. With 37 votes to 4, the small chamber of its economic Commission. Now, the national Council has to decide.
The economic Commission is not convinced by the arguments of the Federal Council, as spokesman Stefan Engler (CVP/GR) said. So there was a concern that the repeal of the exchange period, increase the crime risk.
The Federal Council does not agree with this, The notes could continue to be six months after the recall is no longer used as payment, he says. Exchanged they would have to be on a switch, the Swiss national Bank, to check their authenticity and origin.
money for the Federal government and the cantons
In the case of the scheme, it is also a question of funds for the Swiss Fund for aid in case of uninsurable damage by natural forces. Today, the national Bank pays the value of the within the deadline will not be exchanged for notes in this Fund. The exchange period would be repealed, were those payments.
The Council of States wants to hold on to it. In the future, but not the entire value, but only a fifth of which go to the Fund. The Rest should go to a third to the Confederation and two-thirds to the cantons.
This is a different concept, noted Mason. The Federal Council could live with that, but his own proposal. The fear that the Fund Suisse would not Fund sufficient, he said this was unfounded. This could cover future activities from his capital gains, he argues.
(oli/sda)
Created: 05.03.2019, 09:45 PM
