PostFinance's emergency plan does not yet meet regulatory requirements, the Swiss financial supervisor Finma said yesterday
The crisis plans of Raiffeisen and the Zurich Cantonal Bank — the two other systemically important domestic banks — were judged compliant, but PostFinance was told to go further on what happens if restructuring is impossible.
Finma says the bank must reconcile its emergency measures with its legal duty to provide a universal postal service, something a current revision of the postal law aims to clarify.
The toughened reviews follow the collapse of Credit Suisse, which forced Finma to raise its standards for every systemically important Swiss bank.
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