Swiss watchdog to monitor Credit Suisse strategy rollout By Reuters

ZURICH (Reuters) – Credit Suisse has taken measures to reduce risks and improve its capital situation, Swiss banking supervisor FINMA said on Thursday after the bank unveiled a sweeping overhaul.

“It is clear that FINMA will continue to monitor that all the supervisory requirements are met during the implementation phase of the new strategy,” it said in an emailed statement.

Asked about the bank’s liquidity situation, it said: “The general principle is that (liquidity) buffers are there to be used in appropriate situations. That is precisely why they are built up. And that is what the legislator intended them to be used for.

“It is clear that a credible plan must exist for how the buffers can be replenished within a reasonable period.”