2023-09-14 19:47:03
Zurich (awp) – The president of the Swiss Bankers Association (ASB) Marcel Rohner spoke on Thursday, on the occasion of the major annual gathering of the sector, the need to “destigmatize aid in the form of liquidity” and to “establish a credible and shared risk culture on a daily basis within banks”.
The general assembly of the umbrella organization of a sector shaken by “recent events” also elected as new members of the board of directors Gabriel Castello, general manager of HSBC Private Bank (Switzerland), as well as Marcel Bührer and Thomas Müller , presidents of Postfinance and Raiffeisen respectively. The last named inherited the vice-presidency, as indicated when the announcement of the return of the banking cooperative to the fold of the ASB.
In his speech, Mr. Rohner called for reform of monetary policy, due to the digitalization of information markets and financial services. Highlighting the speed at which “a loss of confidence in a bank and the resulting massive withdrawals of deposits” can spread, without mentioning Credit Suisse, he insisted on the importance of “adapting liquidity management to new circumstances.” “.
Returning to the proposal of the “Bank Stability” group of experts to merge the granting of additional liquidity with ordinary monetary policy instruments, he considered that it deserved further study. “It would be, following the deposit guarantee, a second safety net, and it would be financed from the banks’ assets,” he continued.
Added to this is the extension of the range of pledgeable assets. “A bank must be able to be liquidated,” said the ASB president. According to him, the regulations applicable to systemically important banks (“too big to fail”) “can work”, but they must be “arranged adequately”.
The theme of cybersecurity, initially planned as the key subject of Bankers’ Day, which brought together some 450 people in Schlieren on the outskirts of Zurich, was largely overshadowed by the question of the Credit Suisse debacle and its impact on the credibility of the Swiss financial center.
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