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Swiss bankers cling to their bonuses. Next week the National Council will meet for a special session aimed at liquidating old businesses. Among them is an edition of SP National Assembly Member Prisca Birrer-Heimo (64). She posted this in 2021—but it’s very up-to-date right now.
The Lucerne native is calling for a ban on bonuses for the highest bodies of systemically important banks. This applies, for example, to management and the board, but not to ordinary employees. It also wants higher equity requirements: globally active banks must have an unweighted equity ratio of at least 15 percent. The larger the bank, the larger the capital cushion should be.
As “Tagesanzeiger” now reports, the Swiss Bankers Association does not think anything of these proposals. He recommends that national legislators say no to proposals to ban bonuses and raise their own funding next week.
The Federal Council saw no problems in 2021
Instead, they want an “open-ended” review, writes the association in a statement about the session. The association writes intricately that only “a precise understanding of processes and processes is the necessary basis for recommendations for improving regulation and identifying responsibilities.” Marcel Rohner has been president of the Bankers Association for a year.
The government also asks parliament to reject SP’s proposals. This advice dates back to 2021. At the time, the Federal Council wrote that it “sees no reason to drastically increase capital requirements” given the measures already taken to strengthen the resilience of systemically important banks. The ban on bonuses doesn’t seem to suit him. According to the Federal Council, in 2021, the parliament and the Federal Council took measures to strengthen the resilience of systemically important banks, thereby minimizing the possibility of government intervention with possible cost consequences for taxpayers.
Bankers can keep hoping for bonuses
But with CS, things developed differently. After the bank has been bailed out by the government and UBS, Finance Minister Karin Keller-Sutter (59) will likely debate in the National Council differently from her predecessor, Ueli Maurer (72). However, the issue has little chance of gaining a majority in parliament, as the SP’s initiatives have so far received little approval from the bourgeois parties.
SP wanted to make progress in the specially convened session on CS, but was unsuccessful in their application. (he)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
