Credit Suisse and UBS expect to miss Basel data deadline by a year

Finma said to be considering penalties

alps
Swiss banks have data mountain to climb

Credit Suisse and UBS will not meet the 2016 deadline for new international principles on risk data, officials at the banks have said. A more realistic date for full compliance is 2017, which may result in some form of penalty from the Eidgenössische Finanzmarktaufsicht (Finma).

"We certainly don't think we will be compliant before the end of this year and this is a pretty open discussion we have been having with our primary regulator, Finma. We haven't put a definite date on when it would be

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here