Swiss banks 'well capitalised'
Zurich, September 15, 2008
Swiss banks are well capitalised in the current financial crisis, the country's bank watchdog said after the collapse of US investment bank Lehman Brothers raised fresh concern about the health of the financial sector.
"Swiss banks are well capitalised," Alain Bichsel, spokesman for the Swiss Federal Banking Commission (EBK) said.
Swiss bank giant UBS and Credit Suisse have traditionally followed more stringent capital requirements than their peers but the EBK is drafting even tougher rules after UBS emerged as the biggest European casualty of the subprime crisis. "The whole thing shows how important good capitalisation for the banks is," Bichsel added. - Reuters