The Swiss population has rejected in a referendum on Sunday, with 74% of votes against, the popular proposal that would have limited the “creation” of money only to the National Bank of Switzerland.
swiss national bank
MADRID | By The Corner | Swiss national bank has pointed out that the country’s two big entities UBS and Credit Suisse should reinforce their leveraging ratios in order to increase their protection against eventual risks, including legal disputes. Furthermore, UBS could be fined between €4.9- 7.3 bn after manipulating exchange rates. Credit Suisse has already paid $3.7 bn to settle legal cases in the U.S. over helping Americans evade taxes and the sale of mortgages to Fannie Mae and Freddie Mac.