Swiss finance faces “manageable” first-round effects from Ukraine conflict, financial market supervisor says


The emblem of Swiss Financial Sector Supervisory Authority FINMA is found outside their headquarters in Bern, Switzerland April 5, 2016. REUTERS/Ruben Sprich/File Picture

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BERN, April 5 (Reuters) – While Swiss fiscal firms’ business enterprise ties to Russia are “not insignificant”, economic market supervisor FINMA does not presently foresee a huge-scale threat to the Swiss economic current market and its security due to Russia’s invasion of Ukraine, FINMA’s new manager reported on Tuesday.

“In regard of the Ukraine war, we can summarise by expressing that this conflict poses numerous hazards for the Swiss economic sector and accentuated hazards for specific institutions,” FINMA Chief Government City Angehrn stated in remarks ready for the watchdog’s yearly media conference, his first since assuming the job. “Overall the risks to the financial centre from to start with round results are workable. We are continuing to monitor the situation to see no matter whether the war has even further, indirect outcomes on the economical markets.”

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Reporting by Brenna Hughes Neghaiwi

Our Criteria: The Thomson Reuters Have confidence in Concepts.


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