ZURICH (Reuters) – International financial authorities must give consideration to legal risks surrounding the potential winding up of global banks, Swiss Finance Minister Karin Keller-Sutter was quoted as saying on Wednesday.
In an interview with the Frankfurter Allgemeine Zeitung newspaper, Keller-Sutter was asked whether rules to deal with banks deemed “too big to fail” need to be standardised internationally so that such lenders can be wound up.
Keller-Sutter said she was in contact about that with the Financial Stability Board, a body that monitors the global financial system, and other finance ministers, including Germany’s Christian Lindner, who she is meeting in Berlin.
“I’d like to raise awareness that winding up (a bank) may sometimes not be possible due to international legal risks. In the case of Credit Suisse, that was clearly a risk,” she said, referring to the Swiss bank…
