Expert group to study role of banks in Switzerland
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.
This content was published on
2 minutes
swissinfo.ch/sb
Español
es
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.
This content was published on
Swiss International Air Lines (SWISS) has extended its suspension of flights to and from Tel Aviv, Israel, and Beirut, Lebanon, until August 26 due to the current tensions in the Middle East.
Swiss union calls for 4% pay rise to address cost-of-living pressures
This content was published on
The Swiss trade union federation Travail Suisse has called for a 4% pay rise this year to help workers cope with cost-of-living pressures.
Swiss trial opens of parents accused of supporting Islamic State
This content was published on
The trial of two parents accused of financially supporting their son who left Switzerland to fight for Islamic State (IS) in Syria in 2015 opened at the Federal Criminal Court on Monday.
Swiss goalkeeper Yann Sommer retires from national team
This content was published on
After a decade as Switzerland’s No. 1 goalkeeper, Yann Sommer retired from the national team on Monday to focus on playing for Inter Milan.
Thousands attend bicentennial of Swiss Shooting Sport Federation
This content was published on
Over 20,000 shooting enthusiasts celebrated the 200th anniversary of the Swiss Shooting Sport Federation in Aarau at the weekend.
First trains pass through repaired Gotthard Base Tunnel
This content was published on
Trains have successfully passed through the western tube of the Gotthard Base Tunnel in a trial. The rail tunnel was seriously damaged by a derailed freight train a year ago.
77th Locarno Film Festival attracted 152,000 movie fans
This content was published on
Around 152,000 movie fans flocked to the 77th Locarno Film Festival that ended on Saturday - a 3.5% increase compared to last year.
SWISS passengers stranded in Kazakhstan flown to Zurich
This content was published on
Swiss International Air Lines (SWISS) has repatriated 331 passengers who were stranded in Kazakhstan after an incident at Astana airport on Saturday.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Credit Suisse to operate under own flag after UBS takeover
This content was published on
Swiss bank Credit Suisse will continue to function under its own name as a separate subsidiary of UBS in the first phase of the takeover process.
Swiss lawmakers agree to ban bonuses at too-big-to-fail banks
This content was published on
The House of Representatives has passed a bill to ban systemically relevant banks from paying some bonuses to bank executives.
Credit Suisse AT1 bondholders who lost $1.7 billion in UBS deal file lawsuits
This content was published on
Hundreds more bondholders have sued Switzerland’s banking regulator after their securities were wiped out during April’s emergency UBS.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.