Switzerland proposes new rules to close Sib oversight gap

Public backstop to become permanent, SNB to provide more liquidity

Swiss parliament
The Bundeshaus, home of the Swiss parliament

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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