Swiss Banks Ordered To Boost Capital

13 Feb 2013

Switzerland’s Federal Council has approved the Swiss National Bank’s request that banks be required to hold an extra 1% in capital beginning in October, a move that has angered bankers and led the Swiss Financial Market Supervisory Authority to say it was not needed at this time.

Switzerland’s Federal Council has approved the Swiss National Bank’s request that banks be required to hold an extra 1% in capital beginning in October, a move that has angered bankers and led the Swiss Financial Market Supervisory Authority to say it was not needed at this time.

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