The Swiss National Bank (SNB) is taking steps to address the stability of the Swiss banking system by easing lenders' access to cash in emergencies and signaling a willingness to accept a wider pool of assets as collateral. This comes alongside a call for banks to prepare more collateral for emergencies and a recognition of the need for action in areas of early intervention, capital and liquidity requirements, and resolution planning. Additionally, the SNB has identified specific needs for action in capital regulations and emphasized the need for a review of UBS's systemic capital requirements to strengthen the stability of Swiss bank financing. In 2023, the SNB sold foreign currency worth nearly $150 billion (approximately 132.9 billion Swiss francs), indicating its increased emphasis on stabilizing the franc. UBS's chairman warned against drawing the wrong lesson from the Swiss banking crisis by imposing higher capital requirements on UBS.
Swiss central bank calls for more action on capital regulation https://t.co/FhvoelZIoD https://t.co/M5znqUeRu8
Swiss regulators should re-examine the capital requirements placed on UBS in the light of its increased, the Swiss National Bank says https://t.co/DFRm8t6u6A
The Swiss National Bank reduced its sales of foreign exchange in the fourth quarter as the franc soared against the euro https://t.co/RQ6TRQJga6
⚠️ SWISS NATIONAL BANK SOLD FOREX WORTH NEARLY $150 BILLION IN 2023 Full Story → https://t.co/Kf9DguRKZz The Swiss National Bank sold foreign currency worth 132.9 billion Swiss francs ($149.51 billion) in 2023, the central bank said on Tuesday, showing its increased emphasis… https://t.co/JnX1zUSvIj
🔴 SNB: WE IDENTIFY THAT THERE ARE NEEDS FOR ACTION IN CAPITAL REGULATIONS.
🔴 SWISS NATIONAL BANK: THE BANK RECOGNISES A NEED FOR ACTION IN THE AREAS OF EARLY INTERVENTION, CAPITAL AND LIQUIDITY REQUIREMENTS, AND RESOLUTION PLANNING.
🔴 SNB: BANKS NEED TO PREPARE MORE COLLATERAL FOR EMERGENCIES.
🔴 SNB: THE STABILITY OF SWISS BANK FINANCING NEEDS TO BE STRENGTHENED.
🔴 SNB: A REVIEW OF UBS SYSTEMIC CAPITAL REQUIREMENTS IS NEEDED.
Swiss central bank easing lenders' access to cash in review of rules, sources say https://t.co/aDZaUeNlEx https://t.co/T9tJvEGun2
🔴 THE SNB EASING BANKS' ACCESS TO CASH IN EMERGENCIES, AND SIGNALS WILL ACCEPT A WIDER POOL OF ASSETS AS COLLATERAL.
⚠️ SWISS CENTRAL BANK EASING LENDERS' ACCESS TO CASH IN REVIEW OF RULES, SOURCES SAY Full Story → https://t.co/SGoNR48GIJ The Swiss National Bank is easing banks' access to cash in emergencies, working with lenders to widen the pool of assets they can pledge to secure funds…
UBS's chairman said imposing higher capital requirements on UBS would mean drawing the wrong lesson from the Swiss banking crisis https://t.co/l2VtflMPIR