UBS is required to revise its emergency planning following the Credit Suisse crisis, as mandated by the Swiss Financial Market Supervisory Authority (Finma). The authority deems UBS's current resolution strategy inadequate and expects the bank to expand its options for action in case of insolvency risk, including the potential sale or shutdown of business segments. UBS has already begun working on its resolution planning to enhance crisis preparedness.
Finma has mandated UBS to revise its stabilization and contingency plans following its acquisition of Credit Suisse. The authority believes that the integration necessitates adjustments to ensure the bank can effectively reorganize and liquidate its three core businesses. Consequently, the annual approval of these plans has been suspended.
Swiss financial market regulator FINMA has instructed UBS to enhance its contingency plans to better prepare for potential insolvency risks. The regulator has paused the annual assessment of these plans while UBS reviews its strategies, emphasizing the need for improved crisis preparedness following the Credit Suisse crisis.
UBS has been instructed by the Financial Market Authority (Finma) to revise its emergency plans following the takeover of Credit Suisse. Current plans only address reorganization or restructuring, but the recent crisis highlights the need for provisions for emergency sales of business segments or the entire bank. As a globally systemically important institution, UBS must meet specific crisis prevention requirements, which Finma reviews annually.
The Swiss financial market regulator, FINMA, has called on UBS to enhance its emergency plans amid concerns over crisis preparedness following the Credit Suisse situation. UBS's annual assessment of its contingency plans has been suspended while it reviews its strategies for potential insolvency scenarios.
UBS is revising its recovery and emergency plans following the takeover of Credit Suisse, as mandated by the Swiss Financial Market Supervisory Authority (FINMA). The integration has created obstacles that require adjustments to ensure continued resolvability, including enhanced resolution planning and liquidity measures. FINMA has suspended the annual assessments for 2024, emphasizing the need for UBS to prepare for potential insolvency scenarios while maintaining systemically important functions.
UBS faces scrutiny from the Financial Market Authority (Finma) regarding its crisis management plans, particularly after the Credit Suisse takeover. Finma has determined that UBS's current restructuring and liquidation strategies are inadequate, necessitating revisions to enhance crisis preparedness and ensure stability without taxpayer intervention. The authority emphasizes the need for more conservative and comprehensive planning, taking lessons from the recent CS crisis into account.
Finma has declared UBS a major risk for Switzerland, suspending the approval of its resolution plans due to obstacles arising from the integration of Credit Suisse. The regulator emphasizes the need for UBS to standardize its structures and revise its stabilization and emergency plans, as the current strategy is insufficient for managing a crisis involving such a large institution.
UBS is required to revise its contingency plans following the integration of Credit Suisse, as mandated by Finma. The authority has suspended UBS's annual approval of its stabilization plan for 2024, emphasizing the need for improved liquidity planning and options for intervention in case of insolvency. UBS asserts it has a robust business model and a loss-absorbing capacity of approximately $200 billion, and is already working on enhancing its resolution planning based on lessons learned from the Credit Suisse crisis.
FINMA has instructed UBS to revise its stabilization and contingency plans following the acquisition of Credit Suisse. The integration necessitates adjustments to ensure the bank's recovery and liquidation capabilities, with annual plan approvals suspended. UBS has acknowledged the need for these changes and is already working on enhancing its existing plans.
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