SNB’s Hildebrand unconvinced on need for global safety net


Philipp Hildebrand, the chairman of the governing board of the Swiss National Bank, on Tuesday said he was yet to be convinced that a global safety net to provide liquidity during crises was "necessary or even desirable".

"Looking into the future, the important question is whether it is necessary to proceed beyond the existing loose network of multilateral, regional and bilateral facilities towards a truly global financial safety net. This would imply formal, systematic coordination between the

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