ZURICH - International financial authorities must give consideration to legal risks surrounding the potential winding up of global banks, Swiss Finance Minister Karin Keller-Sutter was quoted as saying on Wednesday.
"I'd like to raise awareness that winding up may sometimes not be possible due to international legal risks. In the case of Credit Suisse, that was clearly a risk," she said, referring to the Swiss bank that collapsed last year."There are considerable doubts that recapitalisation via compulsory participation of creditors, that is, a "bail-in", would work," Keller-Sutter said.
"The equity backing of the foreign subsidiary must be so large that it can be sold or liquidated in a crisis without damaging the Swiss parent company. That was exactly the problem with Credit Suisse," she said. Traders who scooped up Warren Buffett’s Berkshire Hathaway shares at a massive $620,000 discount during glitch will have their deals canceled by the NYSE
BofA says chip stocks won't peak until mid-2026, and that these 3 sub-industries will thrive until then
Sverige Senaste nytt, Sverige Rubriker
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