Bern, Switzerland (TSR, Fre) - The Swiss Federal Council Thursday reassured the public that Swiss banks are relatively solid, with higher capital requirements than the coverge called for by international standards.

Eveline Widmer-Schlumpf, who is temporarily replacing Hans-Rudolf Merz as finance ninister, told a press conference in Bern that the Federal Council might consider an appeal made by some in Parliament to increase the guarantee to account-holders from the current CHF30,000 to 100,000 in case a bank fails. She insisted that such a scenario is unlikely at the moment.

Posted by :: Ellen Wallace on 3 October 2008 at 9:52 | permalink
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News story, GenevaLunch, 3 October 2008.

Filed under: Politics

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