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Swiss Central Bank Sees Risks at Credit Suisse and UBS

  • SND President says important bank risk management adequate
  • Swiss regulators are probing globally active banks’ stability
The Swiss National Bank Presents New 100 Swiss Franc Banknote
Photographer: Stefan Wermuth/Bloomberg
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UBS Group AG and Credit Suisse Group AG risk substantial losses from a U.S. or protracted euro-area recession, though both lenders are proving resilient amid the pandemic, according to the Swiss central bank

The coronavirus crisis has again demonstrated that massive shocks and unexpected spikes in uncertainty are a recurring feature of the banking business, the Swiss National Bank said in its annual Financial Stability Report Thursday.