BERN Dec 15 Swiss big banks UBS and Credit Suisse need to further strengthen their resilience through the accumulation of high-trigger contingent convertible capital instruments (CoCos), Swiss National Bank Vice Chairman Fritz Zurbruegg said on Thursday.
"The further strengthening of resilience through the accumulation of high-trigger CoCos, as foreseen by the regulations, is important and necessary," Zurbruegg said, according to remarks prepared for a media conference following the SNB's decision to keep rates at very low levels.
He said the big banks' loss potential remained substantial relative to their capitalisation despite a slight improvement in their capital situation since June. (Reporting by Silke Koltrowitz; Editing by Michael Shields)
Fresh economic sanctions on Qatar being considered - UAE envoy
DUBAI, June 28 Gulf Arab states are considering fresh sanctions on Qatar and could ask their trading partners to choose between working with them or Doha, the United Arab Emirates ambassador to Russia said in an interview with The Guardian newspaper.