2023-04-16 18:47:29
Marcel Rohner recognizes from the outset that the image of bankers is tarnished “after this landmark event which struck a renowned institution”. He himself ran UBS at the time of its rescue in 2008. The history of Credit Suisse therefore has the air of deja vu…
The doctor in economics admits that it is not normal for banks to have a kind of comprehensive cover paid by the Confederation: “The objective is that this is not the case. That is why certain measures were taken after the financial crisis of 2008-2009. Liquidity and capital requirements were introduced. This “too big to fail” regime should have avoided that, precisely”, he develops.
>> Also read:
Angry shareholders for the last general meeting of Credit Suisse
In case of losses, no bonus
The political world, on the left as on the right, is now demanding changes in the Swiss banking culture. Bonuses for top managers are particularly in the sights of the dissatisfied. The Swiss population seems to understand less and less these exorbitant treatments.
“I understand this position. It is not correct that we grant variable remuneration when a bank makes losses. The variable part of the remuneration must be focused on the long term”, says Marcel Rohner.
But he doesn’t want to hear about a cap on bonuses either: “I don’t think a cap will solve the problem. You have to create the right incentives and the right structures. There is already a regulation of the Finma, which tells us very clearly how to proceed. We must now apply this consistently,” he pleads.
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Bonuses for Credit Suisse executives will be eliminated or reduced
Do not increase equity everywhere
The left and the center are calling for a general increase in bank capital. Objective: to ensure that they have the kidneys strong enough in case of turbulence.
For Marcel Rohner, this request does not take into account the diversity of the sector. “What is important is to see that our banking landscape is extremely heterogeneous. One out of 231 banks had a problem. Two of them were of systemic importance. One took over the other. Now I believe that we must be careful that we do not draw hasty conclusions and that we do not introduce measures that would apply to establishments that are functioning very well and surviving in this very difficult context”, maintains- he.
The boss of the bank umbrella evokes an assessment of the establishments on a case-by-case basis, before possibly increasing “in certain cases” equity or liquidity.
In any case, one thing is certain: Marcel Rohner agrees that accepting state aid means having to accept certain rules.
>> Also watch the 7:30 p.m. return Sunday to the anger of parliamentarians:
Interview by Jennifer Covo
Adaptation web: Antoine Michel
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