Switzerland's parliamentary report on the Credit Suisse collapse outlines 30 recommendations to prevent future crises, emphasizing the need for stricter regulations on systemically important banks like UBS. Key proposals include limiting executive bonuses during downturns, enhancing FINMA's powers, and establishing a public liquidity backstop to stabilize the financial system. The report also highlights the importance of improved information sharing among key officials during crises.
UBS is engaged in "technical discussions" with the Swiss government regarding its capital plans, according to CEO Sergio Ermotti. He noted that the bank is working on 22 proposals from the Swiss Federal Council and is focused on ensuring all parties have the same data for decision-making. Feedback from the government has not yet been received.
The Swiss financial regulator, Finma, has urged UBS to enhance its stabilization and contingency plans following its acquisition of Credit Suisse. This call comes as UBS is required to ensure its Swiss operations can function uninterrupted during potential insolvency risks, emphasizing the need for improved liquidity measures. UBS has acknowledged the need for targeted development of its contingency strategies in light of lessons learned from the Credit Suisse crisis.
UBS is urged by Swiss regulator Finma to enhance its stabilization and contingency plans following its acquisition of Credit Suisse. The regulator has suspended the annual approval of these plans, emphasizing the need for improved crisis preparedness and liquidity measures to protect financial stability and taxpayer interests. UBS acknowledged the need for targeted development of its contingency strategies to ensure uninterrupted operations during potential insolvency risks.
UBS is urged by the Swiss financial regulator Finma to enhance its stabilization and contingency plans following its acquisition of Credit Suisse. Finma has suspended the annual approval of these plans, emphasizing the need for improved crisis preparedness and liquidity measures to ensure UBS can operate without interruption during potential insolvency risks.
The Swiss stock exchange regulator, Finma, has urged UBS to enhance its contingency plans following the Credit Suisse crisis, which revealed the need for improved crisis preparedness among systemically important banks. UBS has begun refining its plans to ensure uninterrupted operations and better liquidity management in case of insolvency risks. The regulator emphasized the importance of robust liquidity measures to address rapid deposit withdrawals, a key issue highlighted by the recent banking turmoil.
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