Swiss regulators step forward with plan for CoCo issuance
The Swiss Federal Council has welcomed last Monday’s "too big to fail" proposals from its Committee of Experts, and instructed the Federal Department of Finance to prepare a draft consultation paper for the start of next year.
The council said the final report of the committee, which recommended that Credit Suisse and UBS hold 10% of their RWA in common equity and up to 9% in contingent capital, or CoCo, was a good basis for drafting a bill.
The Federal Council also said that the
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