June 21, 2018 / 5:04 AM / 3 months ago

Swiss National Bank says UBS, Credit Suisse must work on TBTF rules

ZURICH, June 21 (Reuters) - Switzerland’s two biggest banks, UBS and Credit Suisse, have more work to do on emergency planning to meet new too-big-to-fail rules by the end of 2019, the Swiss National Bank said on Thursday.

“Since publication of the last Financial Stability Report, the two Swiss big banks have further improved their compliance,” the central bank said in its 2018 financial stability report. “However, progress is still necessary, particularly as regards resolution planning.”

The banks have until the end of next year to prepare so-called resolution plans that would prevent taxpayers from having to bail them out in the event of a crisis.

While the banks have improved the amount of risk-weighted capital they hold, they must improve their leverage ratios, or the ratio of core capital to total assets, the SNB said. (Reporting by Brenna Hughes Neghaiwi, editing by John Miller)

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