The Swiss central bank will answer on sovereign electronic money

The Swiss central bank will answer on sovereign electronic money creation

In the 108th Annual Report Swiss National Bank 2015
http://www.snb.ch/en/mmr/reference/annrep_2015_komplett/source/annrep_2015_komplett.en.pdf

we read:

Page 22:

Swiss sovereign money initiative



"In December 2015, the request for the popular initiative known as the Swiss sovereign money initiative (Vollgeldinitiative) was successful. By putting money creation solely in the hands of the SNB, the initiative aims to fundamentally remodel Switzerland’s monetary policy and banking system, and remove banks’ money creation powers. Instead, all new money would be created by the SNB and distributed directly to the Confederation or the citizens. The SNB will analyse the impact of the proposed constitutional change on the formulation and implementation of monetary policy and look at the implications for financial stability, and will comment further on the initiative in due course."