Swiss Finance Minister Criticizes Bank Winding Up Rules and Defends Takeover.
TL;DR Summary
Swiss finance minister has warned that the rules for winding up big banks do not work and pose risks to the financial system. He called for a review of the rules, which were introduced after the 2008 financial crisis to prevent taxpayers from having to bail out banks. The minister said that the rules could lead to a fire sale of assets and a collapse of the financial system in the event of a crisis.
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