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
4
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

JPMorgan cuts Netflix rating, citing balanced risk-reward post-rally; stock falls

JPMorgan cuts Netflix rating, citing balanced risk-reward post-rally; stock falls

May 19, 2025
Global trade could climb 3% in 2025 if MidEast conflicts contained, WTO says

Global trade could climb 3% in 2025 if MidEast conflicts contained, WTO says

October 10, 2024
LATAM crypto update: Colombia plans crypto regulations, Nexo and Sphere to reduce cross-border payment times

LATAM crypto update: Colombia plans crypto regulations, Nexo and Sphere to reduce cross-border payment times

March 9, 2025
Subscribe to Insightful Word


    Recent News

    BBVA reassesses Sabadell Bid after Spanish government imposes integration freeze

    BBVA reassesses Sabadell Bid after Spanish government imposes integration freeze

    June 25, 2025
    Long US30: price Sustains above 43K, targets 44K on risk rally and fed clarity

    Long US30: price Sustains above 43K, targets 44K on risk rally and fed clarity

    June 25, 2025
    NATO leaders agrees on increasing defence spending to 5%

    NATO leaders agrees on increasing defence spending to 5%

    June 25, 2025
    BMBL stock rockets 26% after job cuts and raised Q2 revenue forecast

    BMBL stock rockets 26% after job cuts and raised Q2 revenue forecast

    June 25, 2025

    Recent News

    BBVA reassesses Sabadell Bid after Spanish government imposes integration freeze

    BBVA reassesses Sabadell Bid after Spanish government imposes integration freeze

    June 25, 2025
    Long US30: price Sustains above 43K, targets 44K on risk rally and fed clarity

    Long US30: price Sustains above 43K, targets 44K on risk rally and fed clarity

    June 25, 2025

    Latest News

    • BBVA reassesses Sabadell Bid after Spanish government imposes integration freeze
    • Long US30: price Sustains above 43K, targets 44K on risk rally and fed clarity
    • NATO leaders agrees on increasing defence spending to 5%

    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.