FINMA and Saudi National Bank were not immediately available for comment.

Source: https://www.shorenewsnetwork.com/2023/07/09/saudi-national-bank-was/

FINMA defended its actions in a statement Thursday, saying they were based on the contractual terms of the bonds and an emergency law adopted by the Swiss government on Sunday.

Source: https://krdo.com/money/cnn-business-consumer/2023/03/23/swiss-central-bank-says-crisis-halted-as-it-hikes-interest-rates/

FINMA finds that Credit Suisse seriously breached its supervisory obligations in this context concerning risk management and appropriate organizational structures.

Source: https://www.benzinga.com/news/23/02/31084246/swiss-regulatory-authority-find-credit-suisse-in-serious-violation-regarding-greensill-debacle

Given those low rates, and BCV's interest-rate-risk exposure as determined by FINMA, FINMA has set an additional capital requirement of 1.0% for BCV.

Source: https://www.marketscreener.com/quote/stock/BANQUE-CANTONALE-VAUDOISE-100083/news/Banque-Cantonale-Vaudoise-Basel-III-Pillar-3-Report-30-June-2022-44633276/?utm_medium=RSS&utm_content=20230816

Given those low rates, and BCV's interest-rate-risk exposure as determined by FINMA, FINMA has set an additional capital requirement of 1.0% for BCV.

Source: https://www.marketscreener.com/quote/stock/BANQUE-CANTONALE-VAUDOISE-100083/news/Banque-Cantonale-Vaudoise-Basel-III-Pillar-3-Report-30-June-2022-44633276/?utm_medium=RSS&utm_content=20230816

The additional capital requirement is a temporary requirement set by FINMA in light of the extremely low interest rates up to 2022.

Source: https://www.marketscreener.com/quote/stock/BANQUE-CANTONALE-VAUDOISE-100083/news/Banque-Cantonale-Vaudoise-Basel-III-Pillar-3-Report-30-June-2022-44633276/?utm_medium=RSS&utm_content=20230816