Postfinance loses to Finma and needs to beef up its equity
The appeal of the yellow giant was rejected, so that the amount demanded is more than 270 million francs.
For the Federal Administrative Court, the additional capital of Postfinance required by Finma is in accordance with the law.
KEYSTONE/Gaetan Bally
Postfinance must strengthen its equity on the orders of Finma. The Federal Administrative Court (TAF) rejected an appeal by the financial institution against a decision to that effect by the financial market supervisory authority.
In July 2021, the Swiss Financial Market Supervisory Authority (Finma) ordered Postfinance to increase its equity. She judged that without this additional mattress, the financial arm of the Post Office would not have sufficient guarantees against the risks incurred.
The necessary amount is redacted in the judgment published Thursday by the TAF. It is however higher than 270 million francs, as Postfinance criticizes in its position paper.
This sum corresponds to the amount that Finma initially demanded. But the Federal Court had canceled this decision and sent the file back to Finma for a new judgment.
“Compliant with law”
The court rejects all of Postfinance’s complaints. The company claimed that the increased risks highlighted by Finma, in particular due to interest rates, result from the calculation method used by the market watchdog. This is in contradiction with international standards, according to Postfinance, which also judged that the legal basis is lacking.
For the TAF, on the other hand, the additional capital required by Finma complies with the law (judgment B-4004/2021 of 30.3.2023).
ATS
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