Credit risk efficiency contributes to Switzerland’s banking prowess

Philipp Hildebrand, vice-chairman of the governing board of the Swiss National Bank, said that more effective distribution of credit risk has benefited the jurisdiction’s banking industry.

Speaking in a news conference in Berne last week, Hildebrand said that the banking industry’s good state of health was partly attributable to innovation in financial markets: “New financial instruments, such as credit derivatives, enable banks to separate their credit risk and transfer it either completely or partially.”

He added that this led to better distribution of credit risk, which has led to lower financing costs for consumers.

But Hildebrand did go on to caution banks against taking too

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