Sources: The Bureau of Labour Statistics, Eurostat and the IMF  BIS Review 100/2008  11  GDP growth in Sweden Quarterly changes in per cent calculated at an annual rate, seasonally-adjusted data 8  8  7  7  6  6  5  5  4  4  3  3  2  2  1  1  0  0 -1  -1 00  01  02  03  04  05  06  07  08  09  10  11  Note. Broken columns refer to the Riksbank’s forecasts in M PR 2008:2. Sources: Statistics Sweden and the Riksbank  Employed 1000s of persons, seasonally-adjusted data 4800  4800 Employed (ILO-definition) Employed (EU-definition)  4600  4600  4400  4400  4200  4200  4000  4000 00  01  02  03  04  05  06  07  08  09  10  11  Note. Broken line represents the Riksbank’s forecast in the M PR 2008:2. Sources: Statistics Sweden and the Riksbank  12  BIS Review 100/2008  Unemployment Per cent of labour force, seasonally-adjusted data 10  10  8  8  6  6  4  4  2  2  0  0 00  01  02  03  04  05  06  07  08  09  10  11  Note.
Niklaus Blattner: IT in the financial sector - aspects of regulation and supervision Summary of a speech by Mr Niklaus Blattner, Vice-Chairman of the Governing Board of the Swiss National Bank, at 8. Berner Tagung für Informationssicherheit (8th Conference on Information Security), Berne, 29 November 2005. The complete speech can be found in German on the Swiss National Bank’s website (www.snb.ch). *  *  *  The completeness, integrity, traceability and constant availability of data that has been securely processed are essential in order for the financial system to function smoothly. The Swiss Federal Banking Commission (SFBC) supervises banks and securities dealers domiciled in Switzerland. Its microprudential supervision focuses on the individual financial institution, in particular with regard to the protection of creditors and investors. By contrast, it is the task of the Swiss National Bank (SNB) to contribute to the stability of the financial system, i.e. it is engaged in macroprudential oversight. Banking legislation provisions governing the IT organisation requirements of a financial intermediary do not explicitly address the topic of information security, but rather focus on the notion of “proper and rightful conduct of business”. For the SFBC, information security is merely one concern among others. In one of its circulars it has, however, addressed several critical areas in greater detail, e.g. on the topic of external data management and outsourcing. The SNB’s mandate is limited to the payment and securities settlement systems.