The Swiss National Bank (SNB) and the Swiss Financial Market Supervisory Authority (FINMA) have launched a joint assertion March 15 on the steadiness of the Swiss banking system and Credit Suisse (CS). The issues of “certain banks in the USA” don’t pose a threat for the Swiss monetary system, they wrote.
The regulators mentioned Credit Suisse meets all capital and liquidity necessities, however “if necessary, the SNB will provide CS with liquidity.”
The assertion comes as CS shares fell as much as 30%. According to a Reuters report, European Central Bank officers have contacted banks they supervise to ask about their CS publicity, and the French finance minister would name his Swiss colleague to debate the developments at CS.
Content Source: cointelegraph.com
