Thomas Jordan, president of the Swiss National Bank (SNB), speaks during the bank's annual general meeting in Bern, Switzerland, on Friday, April 28, 2023.
Bloomberg | Bloomberg | Getty ImagesThe Swiss National Bank on Friday pledged to review banking regulations during its annual general meeting in Bern, following recent turmoil involving Credit Suisse.
The central bank played a key role in brokering the rescue of Credit Suisse over the course of a chaotic weekend in March, as a flight of deposits and plummeting share price took the 167-year-old institution to the brink of collapse.
The deal remains mired in controversy and legal challenges, particularly over the lack of investor input and the unconventional decision to wipe out 15 billion Swiss francs ($16.8 billion) of Credit Suisse AT1 bonds.
He added that this would mean his central bank could would be able to provide the necessary liquidity, in times of stress, without the need for emergency law.