Global regulators might not allow exemption for Swiss banks

01/7/2010 | Bloomberg

The Swiss Financial Market Supervisory Authority expects that international regulators will not allow an exemption for UBS and Credit Suisse that lets the banks exclude loans made to domestic businesses. The Swiss regulator granted the exemption in late 2008 to bolster lending to local businesses. "We expect the Basel Committee won't allow an exception excluding domestic lending from the leverage ratio," said Tobias Lux, a representative of the Swiss regulator. "We expect to have to adapt our rules."

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