November 14, 2019 / 10:23 AM / 8 months ago

Swiss revamp approach for gauging default risks for banks

ZURICH, Nov 14 (Reuters) - Swiss financial markets watchdog FINMA has adjusted the way banks should approach default risks in a principles-based system to take effect at the start of next year, it said on Thursday.

"The new approaches to the formation of value adjustments for default risks are designed to be proportional. Only systemically important banks are required to model the expected losses in detail in their credit portfolios," it said in a statement here

Reporting by Michael Shields; editing by Thomas Seythal

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