Swiss gear up to expand emergency liquidity programme

Switzerland is preparing to expand an emergency liquidity programme for coronavirus-hit businesses, the government said on Wednesday, after banks lent out a third of the 20 billion Swiss francs ($20.70 billion) set aside for state-backed loans only last week.

"This should address the high demand from companies for COVID-19 bridge loans," Switzerland's cabinet said in a statement, adding it had instructed the finance ministry to craft the proposal by Friday.

($1 = 0.9662 Swiss francs)