Switzerland Is Reworking Its Rulebook to Stop Another Banking Meltdown
The government is unveiling banking reform proposals, and a new regulator is in charge
Finma was unable to prevent Credit Suisse threatening Switzerland’s hard-won reputation for financial stability.
Photographer: Adrian Moser/BloombergThis article is for subscribers only.
Switzerland is accelerating efforts to reform its banking regulations a year after the collapse of Credit Suisse — and handing more power to those who will enforce them.
The government is due to unveil long-awaited proposals for legislation in the coming days that are likely to touch on all of the main pillars of bank oversight, from capital and liquidity rules to controls on governance. UBS Group AG — the country's sole remaining globally-systemic bank that’s now over twice the size of the domestic economy — is in for heightened scrutiny.