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The Bundesrat urgently introduced the state liquidity guarantee or Public Liquidity Backstop (PLB) to prevent the bankruptcy of the troubled Credit Suisse. The Federal Council had already ordered a consultation draft for the PLB in 2022, even before it had to resort to the emergency law.
To ensure that the innovation and other provisions issued in connection with the CS rescue do not expire prematurely, the Federal Council must now submit a proposal to parliament within six months – hence the amendments to the Banking Act.
Because the project is urgent, the period within which interested parties can respond to the proposals has been shortened. The consultation lasts from Thursday to June 21. A consultation usually takes at least three months. (SDA)
Source:Blick
I am Liam Livingstone and I work in a news website. My main job is to write articles for the 24 Instant News. My specialty is covering politics and current affairs, which I’m passionate about. I have worked in this field for more than 5 years now and it’s been an amazing journey. With each passing day, my knowledge increases as well as my experience of the world we live in today.
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