SNB, Finma set up stability steering group

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The Swiss National Bank (SNB) and the Swiss Financial Market Supervisory Authority (Finma) on Friday agreed to a souped-up version of a Memorandum of Understanding (MoU) initially agreed in 2007.

The new memorandum sets up a steering committee responsible for strategic co-operation between the two institutions. The group will comprise senior members of the SNB and Finma, including Phillip Hildebrand, the chairman of the central bank's governing board; Thomas Jordan, the vice-chairman; and fellow

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