2023-05-20 09:44:44
Postfinance opposes stricter capital requirements. She seized the Federal Court, dissatisfied with a judgment rendered in March, by the Federal Administrative Court.
Postfinance continues to believe that the Financial Market Supervisory Authority (Finma) miscalculated the institution’s interest rate risks. Asked by the Keystone-ATS news agency on Saturday, Postfinance spokeswoman Dörte Horn confirmed the information published in the Neue Zürcher Zeitung.
>> Read also: PostFinance loses against Finma and must strengthen its equity
In July 2021, Finma ordered Postfinance to increase its equity. She had judged that without this additional mattress, the financial arm of the Post Office would not have sufficient guarantees against the risks incurred.
Years of arm wrestling
Postfinance opposes Finma’s decision. The latter would not sufficiently take into account the particularities of Postfinance’s business model. One-size-fits-all approaches lead to false security, she argues.
The dispute has been going on for a long time. Since 2016, Finma has required Postfinance to increase its equity. The exact sum at stake is not publicly known, but previous court decisions make it possible to deduce that the corresponding amount is greater than 270 million francs.
Postfinance is a private-law subsidiary of La Poste and is considered systemically important at national level. Under the Postal Organization Act, to which Postfinance is subject, it is not entitled to grant loans or mortgages to third parties. Its legal mission is to provide basic payment transaction services nationwide.
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