Switzerland s recently
published report on how to better police the country s banks was
well received at the International Monetary Fund s meeting in
Washington, the country s finance minister said on. -April 19, 2024 at 01:46 pm EDT
- MarketScreener
New Capital Requirements for Swiss Banks Will Slow Growth at UBS, Says Finance Minister
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Analysis-Swiss Banking Plan Leaves Relieved UBS Out of Immediate Firing Line
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UBS could take years to feel the bite of new regulations after the Swiss government set out plans aimed at keeping the "monster bank" in line that were light on detail and heralded a tortuous political process to enshrine them in law. Shares in the Zurich-based lender took a knock on Wednesday after the finance ministry said its "too big to fail" recommendations envisaged tougher capital requirements for UBS and other systemically important banks following the rescue of its stricken rival Credit Suisse in 2023. "The measures proposed by the Federal Council are not enough to finally regulate the banking sector effectively," said Cedric Wermuth, co-leader of the centre-left Social Democrats (SP), the second-biggest party in the Swiss parliament.
International Business: Swiss government backs tougher rules for banks
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