These measures, intended to mitigate a risk of liquidity problems at Sberbank (Switzerland), will remain in force until September 1, 2022, FINMA said in a statementExternal link on Tuesday. The investigating agent appointed by FINMA will continue to perform their duties.
Specifically, these are measures to protect creditors. They include a deferral of obligations from deposits as well as a far-reaching ban on disbursements and transactions.
The measures, which were imposed in March, had already been extended on June 1 and partially lifted for a short period in July so the bank could settle claims of non-sanctioned creditors. Repayments to sanctioned persons or to the parent company Sberbank of Russia in particular were excluded.
Sberbank (Switzerland) is an indirect subsidiary of Sberbank of Russia. It is not directly affiliated with the Sberbank Europe Group, which is affected by sanctions due to the war in Ukraine.
More
More
Finance watchdog orders ‘protective measures’ at Sberbank Switzerland
This content was published on
The Swiss financial regulator has ordered protective measures in anticipation of a risk of “liquidity problems” at the Zurich-based bank.
Should raw milk sales be banned or should consumers decide?
Swiss food regulations do not allow raw milk to be sold for direct consumption. However, a loophole allows 400 raw milk vending machines to do just that.
Russian prosecutor seeks jail for French researcher tied to Swiss NGO
This content was published on
A Russian prosecutor asked a court to jail Laurent Vinatier, a French researcher working for a Swiss NGO, alleging he broke Russia’s “foreign agent” laws.
Greenwashing is on the decline but not in Switzerland
This content was published on
For the first time in six years, the number of greenwashing cases has fallen worldwide. But the challenges remain, as a new study shows.
This content was published on
The people's initiative for a future without animal experiments in Switzerland has passed the 100,000 mark in certified signatures.
This content was published on
Swiss flavour and fragrance firm Givaudan is strengthening its presence in Southeast Asia with the construction of a new plant in Indonesia.
Swiss siblings nominated for international film music award
This content was published on
With their double nomination at the World Soundtrack Awards, the Swiss-Australian Baldenweg sibling trio are making history for Switzerland.
Switzerland calls on Israel to halt attacks on Unifil in Lebanon
This content was published on
Switzerland has called on the Israeli army to immediately cease all attacks on the UN observer mission Unifil in Lebanon.
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.
Read more
More
Swiss branch of Sberbank allowed to pay creditors
This content was published on
The Swiss financial regulator lifts some restrictions on the Swiss branch of Russia’s Sberbank so it can pay off non-sanctioned creditors.
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.