Swiss Government Plans to Tighten Banking Rules After Credit Suisse Crisis
By Adria Calatayud
The Swiss government plans to tighten rules on systemically important banks after its review of last year's crisis at Credit Suisse found gaps in the existing regime.
The government said Wednesday that the proposed changes mean there will be additional capital requirements for UBS, the only remaining global systemically important bank in Switzerland after its takeover of Credit Suisse.
Certain measures apply to other banks and financial institutions as well, it said.
Quantitative and qualitative capital requirements for banks deemed systemically important should be tightened in a targeted way and supplemented with a forward-looking component, the government said.
Moreover, the government is examining giving powers to Swiss financial regulator Finma to impose fines, it said.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
April 10, 2024 09:35 ET (13:35 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
After Earnings, Is Berkshire Hathaway Stock a Buy, a Sell, or Fairly Valued?
-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
Berkshire Hathaway Earnings: Strong Insurance Results Continue to Lift Revenue and Profitability
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Ford Stock a Buy, a Sell, or Fairly Valued?
-
3 Dividend Stocks for May 2024
-
Amgen Earnings: Obesity Drug Update Is Highly Encouraging
-
What’s Going on With Apple, Tesla, and Alphabet?
-
Apple Earnings: A Weak 2024, but Optimism for 2025
-
4 Utility Stocks to Play the AI Data Center Boom