Financial And Markets Regulation News

Switzerland tightens banking oversight after Credit Suisse crisis

Switzerland launched a consultation on tougher regulation after the Credit Suisse rescue, giving FINMA broader powers to intervene in troubled banks and levy fines, while boosting executive accountability and allowing bonus deferrals for systemically important banks. The package also seeks about $20 billion of extra capital for UBS’s foreign subsidiaries. Part of the Too Big to Fail overhaul, the reforms aim to reduce systemic risk and avoid future state rescues, with enactment potentially no earlier than 2029 and some elements softened amid pushback from banks and lawmakers.