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The SP faction in the federal parliament only wants to approve the federal financial guarantees of CHF 109 billion for the acquisition of Credit Suisse under one condition. It says: Parliament must immediately demand a new regulation so that a case like that of CS cannot happen again.
The SP group decided this during a meeting on Wednesday, reports the “Tages-Anzeiger”.
“Not ready to close your eyes”
SP Switzerland and SP co-chair Cédric Wermuth tweeted this message, confirming it. Wermuth quoted the key statement in his short tweet, adding, “We’re not ready to close our eyes.”
After Easter, the federal parliament will decide on the deployment credits during a special session. The finance committees of both councils say yes.
Financial provisions for commitment credits
On the one hand, there is a federal default guarantee of CHF 100 billion for liquidity support loans to CS. The second CHF 9 billion pledging loan is intended to cover UBS losses. The two finance committees of the federal parliament have already voted in favor of the commitment appropriations.
But the SVP faction recently announced that it would only agree to the federal financial guarantees under certain conditions. The SVP wants a binding commitment from the federal government to improve so-called “too big to fail” banking regulation. (SDA)
Source:Blick
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