Various indicators suggest that yields have fallen further from a low level, and that prices have risen once again. Moreover, there are isolated signs that risk appetite among the domestically focused banks has, if anything, increased again over the last six months. For example, affordability risk and direct interest rate risk at domestically focused banks have risen once more. The SNB will continue to monitor developments on the mortgage and real estate markets closely. Accordingly, it will regularly reassess the need for an adjustment of the countercyclical capital buffer. Announcement of issue date I would like to round up my speech with a few remarks on the new banknote series. On 14 August 2015, the SNB announced that it would begin issuing the new Swiss banknote series in April 2016. The first denomination to be released will be the 50-franc note. Today, we can announce the exact issue date. The new 50-franc note will be presented to the public for the first time at a news conference on 6 April 2016, and will first be issued on Tuesday, 12 April 2016. The new notes will be put into circulation continuously from that date onwards. A largescale information campaign will inform the general public about the new note and on ways to check its authenticity. The remaining banknotes in the series will be issued subsequently at half-yearly or yearly intervals. The SNB will announce each new issue date well in advance. The current eighth banknote series will continue to be legal tender until further notice.
The date on which the current series is to be withdrawn from circulation will also be announced well in advance. 2  BIS central bankers’ speeches