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The Swiss National Bank (SNB) has highlighted ongoing weaknesses in capital adequacy regulations for the banking sector, despite the fallout from Credit Suisse's collapse in 2023. The government is pushing for stricter regulations, particularly requiring UBS to hold more capital, which remains a contentious issue. While UBS claims it is well-capitalized compared to global peers, the SNB stresses that improvements are necessary to enhance stability and competitiveness in Switzerland's financial landscape.
The Swiss National Bank (SNB) has called for improvements in the capital regime of the banking sector following the 2023 collapse of Credit Suisse, which was taken over by UBS. The government is considering stricter regulations, particularly regarding UBS's capital requirements for its foreign subsidiaries, despite UBS arguing that it is already well-capitalized compared to global peers. The SNB noted positive market indicators for the integration of Credit Suisse into UBS, while also highlighting ongoing risks in the mortgage and real estate markets.
The Swiss National Bank has called for reforms in the banking capital regime following the 2023 collapse of Credit Suisse, supporting government efforts to enhance industry resilience. Stricter regulations are proposed for UBS, which is currently integrating Credit Suisse, amid concerns over its capital adequacy and the risks in the mortgage and real estate markets.
The Swiss National Bank has identified significant weaknesses in the current capital regime for the banking sector, emphasizing the need for reform. In its annual report, the central bank pointed out concerns regarding UBS's capital support for its subsidiaries, which were previously highlighted in a report last June.
The Swiss National Bank has emphasized the need to address weaknesses in the current capital regime for the banking sector. In its annual report, the central bank pointed out UBS's challenges in securing adequate capital for its subsidiary holdings, a concern previously raised in a report last June.
The Swiss National Bank purchased foreign currency worth 1.2 billion Swiss francs ($1.36 billion) in 2024, significantly decreasing its market interventions after successfully controlling inflation. This contrasts sharply with the 132.9 billion Swiss francs sold in 2023 to strengthen the franc against rising import prices.
The Swiss Social Democrats are calling for UBS to bolster its hard core capital by $40 billion to avert a potential banking crisis following Credit Suisse's collapse. However, the Swiss People's Party has dismissed these extensive capital requirements. Should parliament reject the proposal, the SP suggests that UBS may need to be broken up or relocate its headquarters.
EFG International is poised for a record net profit in 2024, with over 260 million Swiss francs earned in the first 10 months, surpassing last year"s total of 303.2 million francs. The bank reported strong cash inflows of 7.4 billion francs and an increase in assets under management to 159 billion francs. CEO Giorgio Pradelli noted heightened client activity amid market volatility and indicated potential acquisition opportunities, although nothing is imminent.
EFG International reported a net profit exceeding 260 million Swiss francs ($294.18 million) for the first 10 months of 2024, compared to 303.2 million francs for all of 2023. The bank experienced strong cash inflows, with net new assets of 7.4 billion francs, leading to an annualized growth rate of 6.3%. Assets under management increased to 159 billion francs by the end of October, up from 142.2 billion francs at the end of 2023.
EFG International reported a net profit exceeding 260 million Swiss francs ($294.18 million) for the first 10 months of 2024, compared to a full-year profit of 303.2 million francs in 2023. The bank experienced strong cash inflows, with net new assets of 7.4 billion francs, leading to an annualized growth rate of 6.3%. Assets under management increased to 159 billion francs from 142.2 billion francs at the end of 2023.
John Revill
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Swiss National Bank calls for stronger capital regulations after Credit Suisse collapse
08:15 18.03.2025
Swiss National Bank calls for stronger capital regulations after Credit Suisse collapse
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