FSB recommends further strengthening of the framework for global systemically important banks in Switzerland

• Review concludes that additional steps can be taken to further strengthen the TBTF framework, especially given the merger of the two Swiss G-SIBs, and recommends increasing supervisory resources, strengthening early intervention powers and enhancing the recovery and resolution regime. [...] The UBS-Credit Suisse merger, and events leading up to it, provided a test of the implementation of the TBTF reforms and therefore informed the findings, but the review does not discuss those developments in detail as they have been described elsewhere. [...] Switchboard: +41 61 280 80 80 E-mail: fsb@fsb.org CH-4002 Basel, Switzerland mailto:press@fsb.org Ryozo Himino, Chair of the FSB’s Standing Committee on Standards Implementation (SCSI) that oversaw the preparation of the peer review, said “The findings and recommendations of the review provide the Swiss authorities with the opportunity to ref. [...] The report upholds the appropriateness and feasibility of the international resolution framework established by the FSB’s Key Attributes of Effective Resolution Regimes for Financial Institutions, concluding that the framework provided the Swiss authorities with an executable alternative to the solution that they deemed preferable in the case of Credit Suisse. [...] The FSB coordinates at the international level the work of national financial authorities and international standard-setting bodies and develops and promotes the implementation of effective regulatory, supervisory, and other financial sector policies in the interest of financial stability.