Scribd Logo
Upload

Welcome to Scribd!

  • 14K views

    Swiss National Bank

    Uploaded by

    Tim Moore
    The Swiss National Bank and Swiss Financial Market Supervisory Authority issued a statement asserting that problems in certain US banks do not directly risk contagion in Swiss financial markets. Strict capital and liquidity requirements ensure stability of Swiss financial institutions. Credit Suisse meets capital and liquidity standards for systemically important banks, and the SNB will provide liquidity if needed. Both authorities are monitoring developments closely to maintain financial stability.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Swiss National Bank

    Uploaded by

    Tim Moore
    14K views1 page
    The Swiss National Bank and Swiss Financial Market Supervisory Authority issued a statement asserting that problems in certain US banks do not directly risk contagion in Swiss financial markets. Strict capital and liquidity requirements ensure stability of Swiss financial institutions. Credit Suisse meets capital and liquidity standards for systemically important banks, and the SNB will provide liquidity if needed. Both authorities are monitoring developments closely to maintain financial stability.

    Original Description:

    SNB statement on Credit Suisse

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The Swiss National Bank and Swiss Financial Market Supervisory Authority issued a statement asserting that problems in certain US banks do not directly risk contagion in Swiss financial markets. Strict capital and liquidity requirements ensure stability of Swiss financial institutions. Credit Suisse meets capital and liquidity standards for systemically important banks, and the SNB will provide liquidity if needed. Both authorities are monitoring developments closely to maintain financial stability.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    14K views1 page

    Swiss National Bank

    Uploaded by

    Tim Moore
    The Swiss National Bank and Swiss Financial Market Supervisory Authority issued a statement asserting that problems in certain US banks do not directly risk contagion in Swiss financial markets. Strict capital and liquidity requirements ensure stability of Swiss financial institutions. Credit Suisse meets capital and liquidity standards for systemically important banks, and the SNB will provide liquidity if needed. Both authorities are monitoring developments closely to maintain financial stability.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Press release

    Communications

    P.O. Box, CH-8022 Zurich


    Telephone +41 58 631 00 00
    [email protected]

    Zurich/Berne, 15 March 2023

    SNB and FINMA issue statement on market uncertainty

    The Swiss National Bank SNB and the Swiss Financial Market Supervisory Authority
    FINMA assert that the problems of certain banks in the USA do not pose a direct risk of
    contagion for the Swiss financial markets. The strict capital and liquidity requirements
    applicable to Swiss financial institutions ensure their stability. Credit Suisse meets the
    capital and liquidity requirements imposed on systemically important banks. If
    necessary, the SNB will provide CS with liquidity.
    The SNB and FINMA are pointing out in this joint statement that there are no indications of a
    direct risk of contagion for Swiss institutions due to the current turmoil in the US banking
    market.
    Regulation in Switzerland requires all banks to maintain capital and liquidity buffers that meet
    or exceed the minimum requirements of the Basel standards. Furthermore, systemically
    important banks have to meet higher capital and liquidity requirements. This allows negative
    effects of major crises and shocks to be absorbed.
    Credit Suisse’s stock exchange value and the value of its debt securities have been
    particularly affected by market reactions in recent days. FINMA is in very close contact with
    the bank and has access to all information relevant to supervisory law. Against this
    background, FINMA confirms that Credit Suisse meets the higher capital and liquidity
    requirements applicable to systemically important banks. In addition, the SNB will provide
    liquidity to the globally active bank if necessary. FINMA and the SNB are following
    developments very closely and are in close contact with the Federal Department of Finance to
    ensure financial stability.

    Page 1/1

    You might also like