Switzerland lays out new ‘too big to fail’ rules in wake of Credit Suisse banking turmoil last year

By JAMEY KEATEN
Associated Press

GENEVA (AP) — The Swiss government has announced steps to bolster its “too big to fail” rules aimed to avoid potentially disastrous fallout from banking sector turmoil. The comes in the wake of woes at troubled bank Credit Suisse before it was taken over by rival UBS. Finance Minister Karin Keller-Sutter told reporters that the measures will aim to protect taxpayers and the Swiss economy overall. She says the steps would also involve “targeted and effective” proposals that help boost liquidity at financial institutions and rein in excessive bonuses enjoyed by some bankers.