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Tag Archives: Business

Swiss Banks Boost Capital Bases Despite Coronavirus Crisis 

Keystone / Anthony Anex Swiss banks have been able to strengthen their capital bases despite deteriorating economic conditions during the coronavirus pandemic, according to the Swiss National Bank (SNB). This applies to the two big banks, UBS and Credit Suisse, and also domestic banks. UBS and Credit Suisse now have regulatory capital ratios in line with pre-pandemic levels and fully comply with the legal transparency requirements of the “too big to fail” (TBTF)...

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Swiss Banks Boost Capital Bases Despite Coronavirus Crisis 

Keystone / Anthony Anex Swiss banks have been able to strengthen their capital bases despite deteriorating economic conditions during the coronavirus pandemic, according to the Swiss National Bank (SNB). This applies to the two big banks, UBS and Credit Suisse, and also domestic banks. UBS and Credit Suisse now have regulatory capital ratios in line with pre-pandemic levels and fully comply with the legal transparency requirements of the “too big to fail” (TBTF)...

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Swiss central banker wary of excessive inflation

Jordan, shown at a news conference last year, warns of neglecting the risks of inflation. Keystone/Anthony Anex The Swiss National Bank (SNB) can expand its balance sheet further if needed, says chairman of the board Thomas Jordan. “A big balance sheet is per se no problem. We can expand the balance sheet further, if monetary policy so requires,” he told the Neue Zürcher Zeitung newspaper in an interview published on Saturday. The SNB’s holdings of foreign exchange...

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Swiss central banker wary of excessive inflation

Jordan, shown at a news conference last year, warns of neglecting the risks of inflation. Keystone/Anthony Anex The Swiss National Bank (SNB) can expand its balance sheet further if needed, says chairman of the board Thomas Jordan. “A big balance sheet is per se no problem. We can expand the balance sheet further, if monetary policy so requires,” he told the Neue Zürcher Zeitung newspaper in an interview published on Saturday. The SNB’s holdings of foreign exchange...

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How Strengthening Standards for Data and Disclosure Can Make for a Greener Future

By Caio Ferreira, Fabio Natalucci, Ranjit Singh, and Felix Suntheim Imagine you plan to invest your savings and are looking for a firm or sector with a sustainable business model or a project that can make a real difference in the transition to a low-carbon economy. Where do you get reliable information to assess and compare projects from different companies? Data gaps make it difficult to assess firms’ exposure to climate risk. To give investors access to decision-useful information to...

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Staying Afloat: New Measures to Support European Businesses

By Alfred Kammer and Laura Papi Español, Français  Much of Europe rang in the start of 2021 with new lockdowns and weak economic activity. This same period saw the roll out of effective vaccines. While the end of the pandemic will remain a race between the virus and vaccines, there is now light at the end of the tunnel. At the same time, government programs aimed at supporting lives and livelihoods have been highly successful. Amid the pandemic’s enormous human toll, these measures provided...

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Swiss franc shrugs off being put on the naughty step by US

Switzerland was named a currency manipulator by the US Treasury in December 2020. © Keystone / Gaetan Bally For many foreign exchange traders, the US Treasury’s decision to designate Switzerland as a currency manipulator last month comes nearly six years too late and with a good dose of irony. The Swiss National Bank threw currency markets into full-blown chaos in January 2015 when it unexpectedly abandoned its cap on the franc’s value, within days of a senior...

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How much blockchain does the financial world need?

Switzerland’s central bank is exploring the potential of blockchain but is in no rush to produce digital cash. © Keystone / Gaetan Bally Central Bank Digital Currency (CBDC) is the buzz-phrase of the moment. But the Swiss National Bank (SNB) says producing digital Swiss francs for the general public would create many problems with unclear benefits. The Swiss government has backed up the central bank word for word. And it turns out that an SNB issued digital Swiss...

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Economic cost of pandemic will be enormous: SNB chief

Jordan insists the central bank can continue to defend the Swiss franc. (Keystone / Marcel Bieri) Coronavirus is costing between CHF11 billion and CHF17 billion a month, putting such a strain on the Swiss economy that it will take years to recover. Swiss National Bank (SNB) chairman Thomas Jordan has predicted the worst depression since the 1930s. In two newspaper interviews on Sunday, Jordan warned of significant job losses and an erosion of prosperity in the wake...

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Swiss central bank resists temptation to reduce interest rates

[caption id="attachment_439311" align="alignleft" width="400"] SNB chairman Thomas Jordan said the central bank will continue to defend the franc. (Keystone / Marcel Bieri)[/caption] The Swiss National Bank (SNB) has kept interest rates unchanged at -0.75% but is easing the burden on commercial banks. The SNB said on Thursday that it is also intervening on the foreign exchange markets to keep the franc from appreciating too far, too fast. The SNB’s...

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