The Swiss Financial Market Supervisory Authority (FINMA) has stated its support for the consultation drafts presented by the Federal Council. The legislative package aims to implement measures from the Federal Council's 'too big to fail' report and the Parliamentary Investigation Committee (PInC) report on the Credit Suisse crisis, operating within the Banking Act and the Liquidity Ordinance.
FINMA described the proposed measures as essential for bolstering banking stability and safeguarding the reputation of the Swiss financial center. To maximize their effectiveness, the regulator recommended that the measures be enacted as a comprehensive package rather than piecemeal.
In particular, FINMA advocated for the enhancement of regulatory instruments that feature a preventive effect, aiming to address systemic risks before crises materialize within the financial sector.
