Swiss gov't OKs regulatory approach for big banks

Credit: REUTERS/ARND WIEGMANN

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.

ZURICH, July 3 (Reuters) - The Swiss government does not see any need for fundamental changes in the way big banks including UBS Group UBSG.S and Credit Suisse CSGN.S 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)

((Michael.Shields@thomsonreuters.com; +41 58 306 7461; Reuters Messaging: michael.shields.thomsonreuters.com@reuters.net))

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