Swiss parliament backs proposals for more oversight over big banks

After the Council of States, the National Council also adopts all bank PUK proposals Keystone-SDA

On Tuesday, the Swiss House of Representatives joined the Senate in adopting all motions put forward by the Parliamentary Inquiry Commission (PUK) into the Credit Suisse-UBS emergency merger.

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Four motions and six postulates are included in the more than 100-page report on the emergency merger. The PUK aims to use these motions to ensure that Switzerland learns the lessons from the Credit Suisse collapse.

In the four motions, the PUK demands, for example, that the capital and liquidity requirements for systemically important banks be eased, and it wants to strengthen the enforcement power of the financial market supervisory authority Finma with regard to systemically important companies.

+ Swiss Senate backs tighter rules for big banks

The implementation of motions is binding for the national government if both chambers of parliament agree. This is now the case for the four motions put forward by the PUK.

Translated from German by DeepL/jdp

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