{
  "id": 3539165,
  "title": "Die SNB will mehr Handhabe gegen Übertreibungen am Immobilienmarkt",
  "url": "https://urgent.news/2026/08/26/die-snb-will-mehr-handhabe-gegen-ubertreibungen-am-immobilienmarkt",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-26T16:15:00.000Z",
  "source": {
    "name": "NZZ Wirtschaft",
    "slug": "nzz-wirtschaft",
    "url": "https://www.nzz.ch/wirtschaft/die-snb-will-mehr-handhabe-gegen-uebertreibungen-am-immobilienmarkt-ld.10021109"
  },
  "original_language": "de",
  "account": "The Swiss National Bank (SNB) is advocating for more regulatory room to address risks in the housing market. Its primary tool for cooling off the housing market is the anticyclical capital buffer (AZP), but it has reached its maximum limit of 2.5% of risk-weighted mortgages. This limit has been in place since January 2022, after the SNB temporarily lifted the buffer during the COVID-19 pandemic to give banks more financial freedom to lend. An increase in the AZP level would be necessary to respond to any unexpected surge in risks in the credit and housing markets. However, the SNB does not plan to increase the AZP currently. The bank's Vizepräsident, Antoine Martin, believes that experience shows that increasing the buffer would not significantly slow down mortgage lending or cool down the market. Instead, Martin suggests that other measures, such as limiting borrowing or regulations on financing home purchases with pension funds, might be more effective. The Swiss Bankers Association also does not see the need for adjusting the capital buffer. The SNB has stated that Swiss banks are adequately capitalized to withstand severe disruptions in the housing and mortgage markets. The bank cannot decide on its own whether to activate, adjust, or deactivate the capital buffer, as it would need to consult with the Federal Council and the Financial Market Supervision Authority (Finma). Martin also hinted at the possibility of introducing an additional capital buffer that would not specifically target housing market risks, subject to approval by the Federal Council and Finma.",
  "summary": "Seit Jahren warnt die Nationalbank vor Risiken am Wohnungsmarkt. Ihr wichtigstes Gegenmittel ist allerdings ausgeschöpft. Nun fordert sie mehr regulatorischen Spielraum.",
  "key_points": [
    "SNB seeks more regulatory room for housing market risks",
    "Anticyclical capital buffer (AZP) at maximum 2.5% limit",
    "SNB unlikely to increase AZP, suggests alternative measures"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}