Report of the "too big to fail" commission of experts takes account of international financial reform results
Bern, 26.08.2010 - The work of the commission of experts appointed by the Federal Council to deal with the too-big-to-fail issue is at an advanced stage. Its report will take account of the recommendations of the Basel Committee on Banking Supervision and be published at the end of September 2010.
After delivery of the interim report in April 2010, the Federal Council invited the commission of experts to bring preparation of the final report forward from the end of the year to 31 August 2010. The commission of experts has now requested the Federal Council to postpone the delivery of the report. Although the work is at an advanced stage, the experts believe that it will not be possible to give concrete specifications, particularly regarding capital adequacy requirements, until the international minimum standards of the Basel Committee on Banking Supervision have been determined.
The Federal Council took note of the commission of experts' request. It accepted a postponement until the end of September in the interests of a final report that is as concrete as possible, is feasible, and takes due account of international consensus on the calibration of Basel III.
The commission of experts was mandated the Federal Council in November 2009 to examine the economic risks caused by large companies and propose solutions for containing the too-big-to-fail problem. The commission is led by Peter Siegenthaler, former Director of the Federal Finance Administration, and includes representatives from authorities, the academic world and private industry. At the unanimous request of the commission of experts and as mandated by the Federal Council, Peter Siegenthaler will continue to chair the commission until the final report has been submitted.
Address for enquiries
Mario Tuor, Head of SIF Communications, tel. +41 (0)31 322 46 16
Publisher
Federal Department of Finance
https://www.efd.admin.ch/efd/en/home.html