Swiss stocks - Factors to watch on December 19
19/12/2022 05:43
ZURICH/BERLIN, Dec 19 (Reuters) - Here are some of the
main factors that may affect Swiss stocks on Monday:
CREDIT SUISSE CSGN.S
The U.S. Federal Reserve and the Federal Deposit Insurance
Corp identified problems in the so-called living wills of Credit
Suisse Group AG and BNP Paribas SA BNPP.PA detailing how the
banks' U.S. operations would be unwound in the event of
bankruptcy urn:newsml:reuters.com:*:nL1N33630N
The regulators identified deficiencies in Credit Suisse's
U.S. governance and cash flow forecasting, according to a
statement on Friday. The inadequacies raised questions about the
bank's commitment to executing its resolution strategy, they
said
Credit Suisse needs to execute its revamp successfully and
end a string of negative headlines from Switzerland's
second-biggest bank, Swiss National Bank Chairman Thomas Jordan
said in an interview aired on Saturday urn:newsml:reuters.com:*:nL8N337069
Zuercher Kantonalbank ZKB.UL is not trying to poach
clients from Credit Suisse, the state-backed cantonal bank's
chief executive said in a newspaper interview published on
Saturday urn:newsml:reuters.com:*:nL8N337073
The SonntagsZeitung paper reported that the 2023 wage pool
for Credit Suisse's domestic susidiary will increase by 1.75%,
with the money earmarked for individual and performance-related
salary increases. At UBS UBSG.S the increase was 2.25%
SULZER SUN.S
The engineering company is looking for a third division that
could complement its existing portfolio, Chair and CEO Suzanne
Thoma told the NZZ an Sonntag paper, declining to be more
specific. "We have so much potential in house that we are
certainly not pushing an acquisition strategy now. But we have
the necessary financial strength for acquisitions," she says.
SWISS NATIONAL BANK
The Swiss National Bank has nominated Angelo Ranaldo for
election to the organisation's Bank Council, it said late on
Friday. urn:newsml:reuters.com:*:nL8N3364OB
ECONOMY
SNB data on sight deposits due at 0900 GMT
(Reporting by Zurich newsroom and Berlin Speed Desk)
((+41 58 306 7336; zurich.newsroom@thomsonreuters.com))
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