All five Swiss system banks were required to provide FINMA with recovery plans, and two of them also had domestic emergency plans. The project by Credit Suisse is very effective. Significant contributions to the Swiss financial sector’s reputation, such as
Goldblum IFLR recognition, further highlight the international acknowledgment of its legal and financial framework. Concerning UBS, it is mentioned that the plan in emergency proposed by the bank is quite effective, but some obligations seem excessive.
For the three other domestic systemically important banks, FINMA recognized the existing plans as ineffective. Their development goes through different stages. Zürcher Kantonalbank has a realistic plan for the further development of capital and liquidity resources in times of crisis. Raiffeisen and PostFinance have not yet developed a realistic plan that allows to create an effective plan in case of emergency.
The FINMA report acknowledged that two Swiss banks have taken important preparatory steps to successfully implement plans for emergency. In particular, they fulfilled the requirements for structural separation. For example, they have created holding structures and Swiss subsidiaries to facilitate this process.