Many Swiss politicians and members of the public remain angry about the recent rushed government deal to head off the potential collapse of Credit Suisse. This week a majority of the National Council, Switzerland’s federal parliament, voted in favour of measures to reduce the risk systemic big banks pose to taxpayers, reported RTS. The second change is to require higher capital ratios of at least 15% for banks of systemic importance. These two proposals were accepted by 101 versus 70 votes and 92 versus 82 votes respectively. Birrer-Heimo would like the regulator to have the ability to sanction miscreant banks with fines and public sanctions.

Source: Le News May 06, 2023 09:36 UTC