Federal Council initiates consultation on introduction of a public liquidity backstop for systemically important banks
Bern, 25.5.2023 - On 24 May 2023, the Federal Council decided that the consultation on the introduction of a public liquidity backstop (PLB) for systemically important banks (SIBs) would be initiated on 25 May 2023. This draft is intended to simultaneously transfer into ordinary law not only the framework for a PLB instrument as introduced in March 2023 by the Federal Council via ordinance, but also other measures introduced at that time and aimed at supporting the takeover of Credit Suisse by UBS. The consultation period, which has been shortened owing to the urgency, will last until 21 June 2023.