November 21, 2018 / 10:13 AM / a year ago

Big three Swiss domestic banks must meet 'gone concern' capital requirements by 2019

ZURICH, Nov 21 (Reuters) - The Swiss government on Wednesday said Postfinance, Raiffeisen Switzerland, and Zuercher Kantonalbank must hold so-called gone concern capital for their possible restructuring and resolution from January 1, 2019.

Gone concern capital requirements are intended to ensure that a bank in difficulty can be restructured and wound up in an orderly manner without financial assistance from the state.

The Swiss cabinet said it will decide next year on the corresponding requirements for the parent entities of the country’s two largest banks, Credit Suisse and UBS .

Reporting by John Revill; Editing by Jan Harvey

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