A buck or boost converter, which includes a first inductor, a controlled switch, a main diode, and an output capacitor, also includes a snubber circuit to reduce losses. The snubber circuit includes a second inductor in a path in series with the switch and main diode of the converter, a series-connected resistor and diode connected directly in parallel with the second inductor, and a capacitance in parallel with the main diode and which can be constituted partly or entirely by parasitic capacitance of the main diode.