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HomeEconomySwiss authorities, banks mull new rules to prevent bank runs  

Swiss authorities, banks mull new rules to prevent bank runs  

Business & FinanceEconomyGovernment

Reuters was first to report that Swiss authorities and lenders, including UBS (UBSG.S), are discussing new measures to prevent bank runs after Credit Suisse’s rescue earlier this year, a move that could affect billions in deposits. 

Market Impact

UBS shares were 1.8% lower as of 11:35am in Zurich, the biggest decliner in the Stoxx Europe 600 Financial Services Index. The new rules could dent competitiveness or, in a more extreme scenario, push clients to withdraw their money preemptively. While it’s early days, the measures under discussion in Switzerland are making some people nervous. They risk penalizing Swiss banks if they were to be introduced only in Switzerland, one of the sources said. UBS is trying to attract customers with above-market rates on deposits.

Article Tags

Topics of Interest: Business & FinanceEconomyGovernment

Type: Reuters Best

Sectors: Business & FinanceEconomy & PolicyGovernment & Public Services

Regions: Europe

Countries: Switzerland

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story


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