Credit Suisse, UBS have boosted capital positions: SNB By –


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© -. FILE PHOTO: Logo of Swiss financial institution UBS is seen in Zurich

ZURICH (-) – Switzerland’s greatest banks, UBS and Credit Suisse (SIX:), have improved their capital positions however should strengthen their disaster planning, the Swiss National Bank mentioned on Thursday, citing conclusions of economic watchdog FINMA.

“The Swiss massive banks Credit Suisse and UBS have barely improved their capital state of affairs total, regardless of the average deterioration in financial and monetary situations”, the central financial institution mentioned in its 2019 monetary stability report.

“According to FINMA, additional efforts by the massive banks are required, to show that systemically essential capabilities may be maintained with out interruption in a disaster.”

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