Switzerland proposes new rules to close Sib oversight gap
Public backstop to become permanent, SNB to provide more liquidity
Switzerland’s Federal Council is changing its prudential supervision framework to close gaps in its oversight of systemically important banks (Sibs), it announced on April 10.
The proposal, which will have to be approved by the Swiss parliament, includes 22 measures to strengthen its too-big-to-fail regime, largely focusing on crisis prevention, better liquidity provision and expanding the authorities’ emergency toolkit.
The action comes a year after the demise of Credit Suisse, previously
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