Switzerland - Average Long-term Government Bond

For Switzerland, interest rates on savings deposits, interest rates on mortgages (by maturity), and yields on bonds by issuer class (commercial banks, mortgage bond institutions, industry, cantons, government), credit rating and maturity. Monthly from 1932, daily from 1988.

Active:

• Measurement: Percent per annum (% p.a.)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequencies:
  • Business daily
  • Monthly
• Start dates:
  • As early as 4 Jan 1988
  • As early as 1932m12

Predecessor(s):

Ratings bands are per Standard & Poor's.

The IMF writes:

The Swiss National Bank disseminates repo rates for overnight-, one-, two- and three weeks at which the SNB provides liquidity to the banks in the Monthly Statistical Bulletin.

1. In addition, interest rates are published for:
   1. Money market debt register claims 3 months (sold by auction)
   2. Libor market rates for Swiss Francs (1,3,6,and 12 months)
   3. Libor market rates for US-Dollar, Euro, Japanese Yen, and the British Pound (3 months)
   4. Yield on Swiss Confederation bonds (2, 3, 4, 5, 7, 8, 10, 20, 30 years of maturity)
   5. Yield on Corporate bonds (8 years of maturity)
   6. 3-month deposit rate of the big banks at beginning of month
2. The following 3 interest rates are published daily on the internet:
   1. Overnight repo rate
   2. 3-month Libor for the Swiss Franc
   3. 10-year yield on Swiss Confederation bonds

In addition to the yield of Swiss Confederation bonds, yields for 8 years maturity of the following categories are published:

• Cantons
• Mortgage bond institutions
• Commercial banks (incl. cantonal banks)
• Manufacturing (incl. power plants) and trade

The source writes:

Breakdown of interest rates

Interest rates are published as time series and are broken down by (1) product group and (2) other major loan conditions.

1. Loans are allocated to one of the following three product groups:
   • Current account advance facilities: working capital loan with a variable interest rate for an unlimited period. The customer determines the degree to which the loan will be drawn down within an agreed credit line.
   • Fixed-interest investment loan: working capital loan with fixed term and pre-agreed fixed rate of interest.
   • Mortgage: loan for funding real estate. A mortgage is a claim secured by real estate. In the case of a variable-rate mortgage not linked to a base rate of interest, the bank can alter the rate of interest but is not contractually obliged to make periodic adjustments in line with a base rate of interest. The term of the loan is considered to be unlimited. In the case of a variable-rate mortgage linked to a base rate of interest, the bank is contractually required to make periodic adjustments to a base rate of interest. The term of the loan is considered to be limited.In the case of a fixed-rate mortgage, the rate of interest is fixed when the loan agreement is concluded and remains unchanged throughout the maturity of the loan.
2. Interest rates are broken down for the different product groups according to the factors which have the greatest impact on interest rates:
   • Credit risk, by expected loss (the expected loss (EL) corresponds to the product of probability of default (PD) of the borrower and the loss ratio in the event of default, as a percentage of the loan amount (LGD, Loss Given Default): EL = PD x LGD)
   • Maturity
   • Loan amount/credit line

Credit risk, maturity and loan amount are combined in categories. For certain product groups and factors, the categories are defined more broadly in order to ensure the confidentiality and representativeness of the data.

Spot rates measure the yield on zero-coupon bonds at varying terms. 

• Dec 2010 - Initial version.
• 14 Nov 2025, Phillip Thorne - Change in methodology.