UBS and C. Suisse only ones to pass regulator's crisis planning test

Pedro Gonçalves
clock • 2 min read

Only UBS and Credit Suisse, two of the five Swiss systematically important banks, have passed the crisis planning test of FINMA with effective plans. The assessment follows a review of the recovery and resolution plans for the country's big banks which FINMA ordered to be submitted by the end of 2019. The review followed the implementation of Switzerland's Too Big to Fail rules, aimed at reducing risks in the country's financial system and avoiding the need for taxpayer-funded rescues. Mark Branson, chief executive of FINMA, said: "Implementation of the Swiss too-big-to-fail regime...

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