Bloomberg News

Swiss Upper House of Parliament Approves Too-Big-To-Fail Rules

June 16, 2011

June 16 (Bloomberg) -- Switzerland’s upper house of parliament approved the government’s proposed plan of changes to banking law for UBS AG and Credit Suisse Group AG, including stricter capital requirements, to avoid the need for a bailout in a crisis.

The proposals also require the approval of the lower house of parliament, which will debate them in the next three-week session starting Sept. 12.

To contact the editor responsible for this story: Elena Logutenkova at elogutenkova@bloomberg.net


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