In accordance with the Monetary Assistance Act, the Federal Council can instruct the SNB to grant loans or guarantees to individual countries. It can grant short or medium-term monetary assistance to an individual country that participates particularly closely with Switzerland in respect of economic and monetary policy. Medium or longer-term monetary assistance can also be given to an individual country provided this aid forms part of an internationally coordinated financial assistance operation. Monetary assistance is intended to primarily help middle and low-income countries which are under external or structural pressure. As security, the Confederation guarantees the timely fulfilment of agreements concluded by the SNB.