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of the National Bank, with supervision entrusted to its shareholders, the banks' council, the banks' committee, its local committees and auditing committee. The three members of the governing board together decided the monetary policy of the Swiss National Bank. Towards the end of 1993 it had 566 employees.

2004: formal independence from government

With the inception of Article 99 of the Swiss Federal Constitution, in May 2004, the National Bank achieved formal independence.

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