Credit Suisse’s new Swiss bank will be held to the same capital standards as its global parent, Switzerland’s State Secretariat for Financial Matters (SIF) said. The move is part of a broader effort by Switzerland and other European countries to reduce their reliance on U.S. banks in order to boost economic competitiveness. Sigee, however, did not view the requirements as a major negative for the bank. more than double the 4.5% required internationally under the Financial Stability Board’s 2022 standards.
Credit Suisse’s new Swiss bank will be held to the same capital standards as its global parent, Switzerland’s State Secretariat for Financial Matters (SIF) said. The move is part of a broader effort by Switzerland and other European countries to reduce their reliance on U.S. banks in order to boost economic competitiveness. more than double the 4.5% required internationally under the Financial Stability Board’s 2022 standards.