Paul O'Brien Mar 7, 2022:

@Asker In this context, the Swiss National Bank is introducing the new SNB COVID-19 refinancing facility (CRF). This measure is aimed at strengthening the supply of credit to the Swiss economy by providing the
banking system with additional liquidity. There is no upper limit on the amounts available under the CRF, and drawdowns can be made at any time.
The CRF operates in conjunction with the federal government’s guarantees for corporate loans. The facility allows banks to obtain liquidity from the SNB, which is secured by the federally guaranteed loans. The SNB thereby enables banks to expand their lending rapidly
and on a large scale and, at the same time, to access the required liquidity. The interest rate for these refinancing transactions corresponds to the SNB policy rate. https://www.snb.ch/en/mmr/reference/pre_20200325/source/pre_...

Paul O'Brien Mar 7, 2022:

@ Phil Yes, it's not clear what the question is really. I'm not sure the Swiss state, or any state for thatt matter, will act as pledger for your insurance policy rights.

philgoddard Mar 6, 2022:

Your context doesn't include the phrase you're asking about.

Paul O'Brien Mar 6, 2022:

Atto di costituzione in pegno dei diritti derivant Deed of pledge of rights arising out of life insurance policies