Aggregated News From Investment Management Regulators

FINMA Guidance: temporary exemptions for banks due to the COVID-19 crisis

Report/Flag

Please complete the required fields.



In FINMA Guidance 02/2020, the Swiss Financial Market Supervisory Authority FINMA provides the banks with clarifications for dealing with the COVID-19 credits with federal guarantees within the framework of the capital and liquidity requirements, and on temporary exemptions relating to the leverage ratio and on risk diversification requirements. FINMA also provides information about the expected credit loss approach under IFRS 9 and its application in the context of the COVID-19 crisis.

Distribution of dividends

Moreover, FINMA reiterates that the capital freed up through this relief in the leverage ratio calculation is not to be distributed. For banks whose shareholders approved after 25 March 2020 dividends or other similar distributions relating to 2019, or who plan to seek such shareholder approval, the capital relief will be reduced by the amount of the said distributions.

Regulator Information

Abbreviation: FINMA
Jurisdiction: Switzerland

Recent Articles

Ernesto A. Lanza Named Acting Director of SEC Office of Municipal Securities

Washington, D.C., Dec. 3, 2021 — The Securities and Exchange Commission today announced that Ernesto A. Lanza will serve as Acting Director of the Office of Municipal Securities (OMS). Mr.

Tender regarding the ‘Provision of services of two Office Admins/Telephone Operators

The Cyprus Securities and Exchange Commission (‘CySEC’) wishes to announce that it has issued the public Tender No. 19/2021 for the ‘Provision of services...

Nexus IFA (Clone of FCA Authorised Firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

Blanket Order 52-503 – Exemption from National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure

Regulated Industries FCNB is responsible for the regulation and enforcement of securities, insurance, pensions, credit unions, trust and loan companies, co-oper

Deutsche Wallet (Clone of FCA Authorised Firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

Get the latest from Regulatory.News in your inbox!

×