Swiss National Bank

Markets had priced in a 55 per cent probability of a 25 basis point cut before the decision

'We welcome the Swiss government's steps to further strengthen their Too Big to Fail framework in light of last year's turmoil,' said FSB Secretary General John Schindler

Switzerland's central bank said the government and regulators should carry out an in-depth review of rules aimed at preventing disastrous bank collapses, saying key guardrails failed to prevent Credit Suisse from needing to be rescued by Swiss competitor UBS. The Swiss National Bank scrutinised several of the safeguards imposed in the wake of the 2008-2009 global financial crisis that were aimed at preventing a repeat. The central bank concluded that several too big to fail rules designed to avoid the collapse of a major global bank were inadequate and may even have delayed action to ward off disaster. Looking forward, the experience with Credit Suisse shows the need for a review of the TBTF framework in order to facilitate early intervention, the central bank said in its annual financial stability report published on Thursday. It is now up to the authorities to carry out an in-depth review and draw lessons, also in view of the higher systemic importance of the combined bank and th

Credit Suisse crisis: Swiss government said it would provide $9 bn to help UBS meet the possible losses while taking over Credit Suisse, and Swiss National Bank will provide $100 bn of liquidity

The Swiss National Bank raised interest rates by 75 basis points to bring borrowing costs above zero for the first time in almost eight years, following recent moves in the euro region

While Swiss National Bank and UK's central bank increased their lending rates, global shares took a dive as investors began dumping shares based on recession fears.

Stocks around the world keep falling amid Swiss and UK's respective central banks' lending rate hikes along with fears that these moves may drive markets into recession.

The Federal Reserve has just delivered its biggest interest rate rise in over a quarter of a century and even the hitherto dovish Swiss National Bank has taken markets by surprise

As Swiss National Banking increased its policy interest rates, the franc took a jump against the US Dollar and Euro, which is a first in almost 15 years, say reports.

SNB's deputy head Fritz Zurbruegg said there remains a continuing robust demand for cash