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Swiss lawmakers are delaying the introduction of a permanent public liquidity backstop (PLB) for major banks, linking it to a forthcoming government proposal on capital requirements. This decision, made by an upper house committee, could postpone the PLB's implementation until after 2026, as discussions will wait for clarity on regulations for systemically important banks. The committee's stance follows a review of the financial sector's oversight after the collapse of Credit Suisse.
U.S. stock futures indicate a positive start on Wall Street, buoyed by recent inflation data and the avoidance of a government shutdown. The dollar remains strong due to high bond yields, while European markets face challenges amid political turmoil and a declining euro. Oil prices are pressured by a robust dollar and concerns over Chinese demand.
Switzerland's financial regulator, FINMA, will enhance its oversight of UBS as part of a broader effort to strengthen banking regulations following the Credit Suisse collapse. The regulator plans to regularly review its supervisory approach, ensuring UBS can be managed without threatening financial stability. Proposed measures include granting FINMA additional powers and improving UBS's emergency plans to facilitate a potential wind-down without risking taxpayer funds.
Swiss financial regulator FINMA will regularly review its oversight of UBS as part of a broader effort to strengthen banking regulations following the 2023 Credit Suisse collapse. The regulator aims to enhance supervision and ensure that systemically important banks can be restructured without threatening financial stability. Proposed measures include granting FINMA additional powers and improving UBS's emergency and recovery plans.
Switzerland's financial regulator, FINMA, will regularly review its oversight of UBS as part of a broader effort to strengthen banking regulations following the Credit Suisse collapse. The regulator aims to enhance supervision and ensure that systemically important banks can be restructured without threatening financial stability. Proposed measures include granting FINMA additional powers and improving UBS's emergency plans to mitigate risks.
Ireland's government plans to introduce a bill to restrict trade with Israeli settlements in the occupied Palestinian territories, following a UN court ruling that deemed Israel's occupation illegal. The Occupied Territories Bill, initially proposed in 2018, will be reviewed to align with EU law and Ireland's constitution. With an upcoming election, the coalition government, which supports the bill, faces pressure from opposition parties advocating for a trade ban.
Sharon Singleton
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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