July 3, 2019 / 8:46 AM / 4 months ago

Swiss gov't OKs regulatory approach for big banks

ZURICH, July 3 (Reuters) - The Swiss government does not see any need for fundamental changes in the way big banks including UBS Group and Credit Suisse are regulated, it said on Wednesday after a review it does every two years.

"However, the Federal Council considers it necessary to make specific adjustments to the gone-concern capital requirements for Swiss units of the two big Swiss banks," it said, citing proposals released in April.

"The Federal Council also sees a need for clarification regarding the discount system, the staggered timing of bail-in bonds (conversion of debt into equity) and the liquidity requirements for systemically important banks."

Reporting by Michael Shields Editing by Michelle Martin

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