Financial Stability Board recommends stricter supervision of UBS
Published: Thursday, Feb 29th 2024, 11:30
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The global financial stability board FSB recommends stricter supervisory rules for the major bank UBS. The too-big-to-fail (TBTF) rules should be further strengthened.
Switzerland has made important progress in implementing an effective TBTF regime for global systemically important banks, such as UBS, according to a press release issued on Thursday. However, particularly in view of the merger of UBS and CS, an increase in supervisory resources, a strengthening of intervention powers and an improvement in the restructuring and resolution system are necessary, the authority believes.
The FSB coordinates the work of national financial authorities and international standardization bodies at an international level. To this end, it develops and promotes the implementation of effective regulatory and supervisory measures in the interests of financial stability.
The FSB Secretariat is based in Basel and is housed at the Bank for International Settlements (BIS).
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