Today the Federal Council opened the consultation procedure on the partial revision of the Postal Services Organization Act. The key element of the bill is the lifting of the ban on PostFinance providing loans and mortgages. Swiss Post and PostFinance expressly support the Federal Council’s proposal. It is essential that the ban is lifted for PostFinance and to ensure overdue equal treatment with other Swiss banks. With a strong PostFinance, Swiss Post can maintain public service provision for Switzerland and viably improve it for the future.
PostFinance was made legally independent in 2013 based on a decision by the Swiss Federal Parliament. It was granted a banking licence, assumed all the associated obligations and has since met all regulatory requirements. However, in contrast to all other banking institutions, Parliament imposed a ban on PostFinance providing loans and mortgages. This means that PostFinance was not on an equal footing with all other banks, whether in the private or public sector.