The financial market supervisory authority (FINMA) said it could not make a statement “on share prices of supervised institutions or on details of its supervisory activities at individual institutions”, a spokesman said.
Shares of Credit Suisse , Switzerland’s second largest bank, plunged by more than 15% in trading on Monday morning, hitting a new all-time low of CHF2.115 ($2.296).
They recovered later in the day and closed at CHF2.27 on the Swiss stock exchange.
Stock market experts have warned that further bank turmoil or even a global financial crisis would bring the ailing bank into even greater difficulties.
Shares of other Swiss banks, notably UBS, also closed significantly down on Monday.
Monitoring the situation
FINMA said it was taking note of the media reports on Silicon Valley Bank in the United States and was monitoring the situation closely.
The FINMA spokesman told the Swiss AWP business news agency that the authorities were evaluating the direct and indirect exposure of the supervised banks and insurance companies.
“The aim is to identify any cluster risks and potential for contagion at an early stage. As usual in such cases, the authorities are in contact with various institutions and foreign authorities,” he said.
Train vs plane: would you take a direct train between London and Geneva?
Eurostar is planning to run direct trains from Britain to Germany and Switzerland from the early 2030s. Would you favour the train over the plane? If not, why not?
Swiss price watchdog negotiates lower fees for card payments
This content was published on
Small businesses in Switzerland will have to pay fewer fees for cashless payments from customers over the next few years.
Lakes in Central Switzerland have best water quality for bathing
This content was published on
Anyone who swims in a lake in Central Switzerland need have no fear of infection from intestinal bacteria. The water samples taken at 65 bathing sites in 13 lakes all have good to excellent bathing water quality.
This content was published on
Unknown assailants have stolen a historic ring from a Basel museum. The stolen item was a gift from Russian Tsar Alexander I to his host in Basel in 1814.
More May hotel guests in Basel than at any time in past 90 years
This content was published on
Basel hotels recorded 150,854 overnight stays for the Eurovision Song Contest in May. This corresponds to a year-on-year increase of 8.4%.
Demand remains high for rental flats in Switzerland
This content was published on
More rental flats are once again being advertised on property portals in Switzerland. However, demand also remains very high.
One in five Europeans exposed to too much traffic noise
This content was published on
More than one in five Europeans are exposed to unhealthily high levels of traffic noise, according to the European Environment Agency (EEA).
New living space through densification often comes at expense of the poor
This content was published on
If demolition and new construction are carried out and tenants have to make way, low-income households are affected more often than average.
This content was published on
The ceasefire in the Iran-Israel war has visibly eased tensions on the financial markets. The SMI, Switzerland's leading stock market index, has risen above the 12,000 point mark again.
Former top Credit Suisse shareholder Harris Associates sells out of bank
This content was published on
One of Credit Suisse’s longest-standing shareholders has sold its entire stake amid persistent losses and a client exodus.
Credit Suisse slammed for ‘serious breaches’ in Greensill debacle
This content was published on
Swiss financial regulator finds Credit Suisse “seriously breached its supervisory obligations” in its dealings with the collapsed Greensill Capital.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.