Swiss financial regulator welcomes new banking regulation proposals

Swiss financial regulator FINMA on Wednesday welcomed the government's report into new financial regulations to oversee UBS and other lenders following the 2023 implosion of Credit Suisse. "FINMA welcomes the thrust of the report and is in favour of strengthening the stability of banks as well as expanding the range of instruments available to FINMA," the authority said.

FINMA said it particularly supported proposals to improve banks' capital quality and liquidity buffers, and also moves to allow it to disclose enforcement proceedings against banks who break its rules, as well as to issue fines.