March 27, 2023/Fitch Ratings The takeover of Credit Suisse by UBS avoids a full-blown banking crisis with sizeable spillovers to Switzerland’s public finances, but highlights how the sector represents a contingent liability risk for the sovereign, Fitch Ratings says. The fiscal cost of the authorities’ intervention will depend on how […]
OPINION/EDITORIAL
Credit Suisse AT1 Wipeout Not a Template for EU, UK Insurers’ RT1
March 27, 2023/Fitch Ratings The decision by Swiss authorities to fully write down Credit Suisse’s Additional Tier 1 (AT1) notes, without imposing full losses on the bank’s equity, does not imply that EU and UK authorities will treat insurers’ Restricted Tier 1 (RT1) instruments the same way, Fitch Ratings says. […]
The Federation Common-Purse Monthly Sharing Dips Further
March 27, 2023/CSL Research The Federation Account Allocation Committee – FAAC continues its constitutional duty of making monthly disbursements of Gross Revenue Allocation in accordance with the written rules of equity and fairness which guide the committee. A communique issued by FAAC in its latest meeting on Wednesday said it […]
