Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Stock

Swiss financial watchdog to regularly review how it oversees UBS

admin by admin
November 13, 2024
in Stock
0
Swiss financial watchdog to regularly review how it oversees UBS
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

ZURICH (Reuters) – Swiss financial regulator FINMA said on Wednesday it will in future regularly review how it oversees UBS as the country’s authorities prepare to overhaul regulations to make the banking sector more robust.

Laying out its strategic goals for 2025 to 2028, FINMA said it will enhance supervision of institutions it watches and have them develop their governance and risk culture towards higher requirements and clear risk tolerance thresholds.

“The supervisory approach for UBS will be reviewed on an ongoing basis and refined as necessary so that the risks associated with its systemic importance can be countered at all times,” FINMA said in a statement.

The Swiss government in April pitched a series of proposals aimed at tightening banking sector regulations following the 2023 collapse of Credit Suisse and its subsequent takeover by its long-time rival UBS.

Among the proposals floated were extra powers for FINMA, but authorities have yet to determine how far-reaching the new regulations should be. That process is expected to extend well into next year.

The government said it will in the first half of 2025 make an announcement on the supervisory instruments FINMA has as part of the follow-up to those proposals.

UBS and Switzerland’s three other systemically important banks – Raiffeisen Group, PostFinance and Zuercher Kantonalbank, must be capable of being restructured, wound up, or sold off, without jeopardising Swiss and international financial stability, FINMA said.

Last month FINMA said UBS must improve its emergency and recovery plans following its takeover of Credit Suisse to ensure it can be wound down or sold without risking financial stability and taxpayer cash.

FINMA has been appealing for stronger powers to oversee banks, including the authority to name and shame banks that breach its rules, as well as issue fines.

The government said it will take into account the findings of a parliamentary report into how the Credit Suisse crisis was handled when determining banking regulations, it added. The report is expected to be published in the next few weeks.

This post appeared first on investing.com

Previous Post

Musk to join Trump at meeting with House Republicans, reports say

Next Post

These are the top 5 tech stocks to own in 2025: Evercore

admin

admin

Next Post
These are the top 5 tech stocks to own in 2025: Evercore

These are the top 5 tech stocks to own in 2025: Evercore

Trending News

Top stock price forecast: Adobe, SentinelOne, ZIM Integrated

Top stock price forecast: Adobe, SentinelOne, ZIM Integrated

March 11, 2025
Saudi Arabia stocks higher at close of trade; Tadawul All Share up 0.86%

Saudi Arabia stocks higher at close of trade; Tadawul All Share up 0.86%

December 1, 2024
Africa to drive 20% of global LNG growth by 2030, Rystad says

Africa to drive 20% of global LNG growth by 2030, Rystad says

April 29, 2025
Subscribe to Insightful Word


    Recent News

    Vietnam firms to sign $2B deal for US agricultural products

    Vietnam firms to sign $2B deal for US agricultural products

    June 3, 2025
    Here’s why South Korea’s KOSPI Composite Index is soaring

    Here’s why South Korea’s KOSPI Composite Index is soaring

    June 3, 2025
    Asian markets close: Hong Kong leads gains, Nikkei flat; Sensex falls over 630 pts

    Asian markets close: Hong Kong leads gains, Nikkei flat; Sensex falls over 630 pts

    June 3, 2025
    US stocks unchanged on market open: S&P up 0.09%, Nasdaq up 0.19%

    US stocks unchanged on market open: S&P up 0.09%, Nasdaq up 0.19%

    June 3, 2025

    Recent News

    Vietnam firms to sign $2B deal for US agricultural products

    Vietnam firms to sign $2B deal for US agricultural products

    June 3, 2025
    Here’s why South Korea’s KOSPI Composite Index is soaring

    Here’s why South Korea’s KOSPI Composite Index is soaring

    June 3, 2025

    Latest News

    • Vietnam firms to sign $2B deal for US agricultural products
    • Here’s why South Korea’s KOSPI Composite Index is soaring
    • Asian markets close: Hong Kong leads gains, Nikkei flat; Sensex falls over 630 pts

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.