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SNB welcomes UBS, CSuisse capital steps, warns on housing market
June 20, 2013 / 4:48 AM / in 4 years

SNB welcomes UBS, CSuisse capital steps, warns on housing market

ZURICH, June 20 (Reuters) - The Swiss National Bank welcomed measures by Credit Suisse and UBS to bolster their capital, and warned it could take further action to prevent what it sees as lax mortgage lending in Switzerland.

“Over the past year, the Swiss big banks have substantially increased their risk-weighted capital ratios,” the SNB said in its annual financial stability report published on Thursday.

“In this respect, both banks are now very well placed in an international peer comparison.”

The central bank’s comments on Switzerland’s two largest banks come after cutbacks at both of their investment banking arms.

Credit Suisse has pruned risky assets and raised capital since last year’s SNB stability report, which caused its stock to plummet to their lowest level since 1992 by suggesting it halt dividends or issue shares to bolster capital.

The financial stability report comes alongside the central bank’s June monetary policy assessment. The SNB’s rate decision is expected at 0730 GMT.

Reporting By Katharina Bart

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