ZURICH, Nov 20 (Reuters) - Switzerland plans to implement new liquidity rules for banks by mid-2021, the government said, noting progress by the European Union and United States as well towards adopting the global standard known as the net stable funding ratio (NSFR).
"The Federal Council intends to adopt the associated ordinance amendments in early summer 2020, and bring them into force by mid-2021," it said after a cabinet meeting on Wednesday.
The liquidity coverage ratio, which boosts banks' resilience in the case of short-term liquidity crises, was introduced in 2014. The NSFR complements this and aims to ensure stable funding over the long term. (Reporting by Michael Shields)