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Swiss will announce new powers for banking supervisor next year
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Swiss will announce new powers for banking supervisor next year
Nov 13, 2024 3:43 AM

ZURICH, Nov 13 (Reuters) - The Swiss government will

announce the supervisory instruments granted to financial market

regulator FINMA in the first half of 2025, the cabinet said on

Wednesday.

The government will take into account the parliamentary

report into the emergency merger of Credit Suisse when

developing its banking regulations further, it added. The report

is not yet published but expected in the next few weeks.

FINMA has been appealing for stronger powers to oversee

banks in Switzerland following last year's crisis, including the

power to name and shame banks that breach its rules as well as

issue fines.

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