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Banks face tougher bank equity rules next year

Banks in Switzerland have been ordered to triple their equity capital as part of efforts to avoid a new financial crisis.

The cabinet has decided to tighten regulations in line with international rules and implement them by next January, the finance ministry said on Wednesday.

The banking industry had argued Switzerland should wait for other countries to put the rules into force.

However, the government withdrew a requirement imposing more frequent controls following protests by the banks.

The ministry said the amended regulations have no direct link with the too big to fail debate over limiting the size of major banks in a bid to reduce the risk of state bailout packages.

Further measures to improve standards in risk diversification are also to be dealt with in a review of the banking law, according to the statement.

swissinfo.ch and agencies


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