Expert group to study role of banks in Switzerland
Bankers at Paradeplatz in the centre of Zurich's financial district.
Keystone/ennio Leanza
The Swiss finance ministry has set up an expert group to study the role of banks and too-big-to-fail regulations in Switzerland in the wake of the dramatic Credit Suisse takeover by rival UBS.
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Un grupo de expertos estudiará el papel de los bancos en Suiza
In a statementExternal link released on Wednesday, the ministry announced that a group of experts on banking stability had been created to “evaluate strategic considerations on the role of banks and the framework conditions at federal level with regard to the stability of the Swiss financial centre”.
The group will present their findings by mid-August 2023, which will serve as the basis for a government report on “too-big-to-fail” banking regulations expected in April 2024.
The eight-member group, comprising academics and business representatives, will be headed by Jean Studer, former Swiss National Bank Council President.
The Swiss government has promised a full report on the near collapse of Credit Suisse to parliament within 12 months. Several parliamentary committees and political parties have also demanded answers about the emergency takeover of Switzerland’s second largest bank by rival UBS.
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