Consultation initiated on amendments to Liquidity Ordinance in Switzerland

Consultation initiated on amendments to Liquidity Ordinance in Switzerland. On September 30, 2021, the Federal Department of Finance (FDF) initiated the consultation on amendments to the Liquidity Ordinance. The revision is intended to ensure that systemically important banks hold sufficient liquidity, in order to absorb liquidity shocks better than other banks and cover their needs in the event of restructuring or liquidation. The consultation will last until January 13, 2022. … More Consultation initiated on amendments to Liquidity Ordinance in Switzerland

Chinese Evergrande sells a USD 1.5 billion stake in a bank to help settle debts

ChineseEvergrande sells a USD 1.5 billion stake in a bank to help settle debts. Evergrande, the embattled Chinese real estate developer, said Wednesday that it was selling a stake it held in Shengjing Bank for about USD 1.5 billion, with the proceeds going toward paying down its debts. … More Chinese Evergrande sells a USD 1.5 billion stake in a bank to help settle debts