{"id":23960,"date":"2023-04-26T06:16:24","date_gmt":"2023-04-26T06:16:24","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/swiss-regulator-says-two\/"},"modified":"2023-04-26T06:19:25","modified_gmt":"2023-04-26T06:19:25","slug":"swiss-regulator-says-two","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/swiss-regulator-says-two\/","title":{"rendered":"Swiss regulator says two banks&#8217; crisis plans are insufficient"},"content":{"rendered":"<p>ZURICH (Reuters) &#8211;     Swiss financial regulator FINMA has labelled the recovery and resolution plans of two of Switzerland&#8217;s five systematically important banks as insufficient, it said on Wednesday.<\/p>\n<p>FINMA questioned the ability of Zuercher Kantonalbank (ZKB) and PostFinance to continue functioning in case they experienced a crisis. It said &#8220;ZKB has not yet built up the required capital in full&#8221; and that &#8220;PostFinance must realign its emergency planning.&#8221;<\/p>\n<p>The assessment released by FINMA gauged the emergency plans of Switzerland&#8217;s main banks as they stood at the end of 2022. It does not therefore take into account Credit Suisse&#8217;s merger with UBS.<\/p>\n<p>The financial regulator had positively viewed the crisis plan Credit Suisse had developed last year, saying the bank, which last month had to be rescued by UBS in a takeover engineered by Swiss authorities, had an emergency plan that was ready to be implemented. <\/p>\n<p>&#8220;It is clear that there are important lessons to be learned from the Credit Suisse crisis for future crisis preparations,&#8221; FINMA&#8217;S Chief Executive Urban Angehrn said.<\/p>\n<p>In the wake of Credit Suisse&#8217;s takeover, the regulator deflected blame for the debacle at the country&#8217;s second-biggest bank, saying it had been quick to respond, calling instead for more powers to take lenders to task.<\/p>\n<p \/>\n<p> (Reporting by Noele Illien; Editing by Muralikumar Anantharaman)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/swiss-regulator-says-two\/a-sign-of-the-zuercher-kantonalbank-is-seen-on-the\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3P081-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3P081-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ZURICH (Reuters) &#8211; Swiss financial regulator FINMA has labelled the recovery and resolution plans of two of Switzerland&#8217;s five systematically important banks as insufficient, it said on Wednesday. FINMA questioned the ability of Zuercher Kantonalbank (ZKB) and PostFinance to continue functioning in case they experienced a crisis. It said &#8220;ZKB has not yet built up [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":23961,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-23960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3P081-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23960","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=23960"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23960\/revisions"}],"predecessor-version":[{"id":23962,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23960\/revisions\/23962"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/23961"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=23960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=23960"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=23960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}