MoneyMountains.com

The Swiss National Bank has joined other European central banks in rolling out more funding for the world’s hard-hit financial markets. The institution allotted $10 billion (SFr10.94 billion) at an average rate of 2.72 per cent, while the European Central Bank put up $40 billion and the Bank of England $26 billion. Japan has also [...]

The president of the Swiss National Bank says credit conditions in Switzerland have not deteriorated and the country’s banks are well capitalised. Jean-Pierre Roth told the Financial Times newspaper that Swiss cantonal banks and regional banks were “doing fine” despite the current financial market crisis. Switzerland’s largest bank, UBS, has had to write down more [...]