Swiss National Bank: Swiss Banks

Capital Reserves Dept: GENEVA - The Swiss government took action Wednesday to stop the country's housing market from running out of control by requiring banks to hold more capital reserves, according to Winnipeg Free Press. In a statement, the council said it approved the Swiss National Bank's request to demand an extra 1 per cent capital cushion from banks starting in October a move likely to further constrain Swiss banks, which are already struggling to maintain profitability and swiss Federal Council Eveline Widmer-Schlumpf speaks about the budget 2014 during a press conference in Bern, Switzerland Wednesday, Feb. 13, 2013. The Swiss government took action Wednesday to stop the country's housing market from running out of control by requiring banks to hold more capital reserves. The nation's governing Federal Council in Bern, Switzerland, which includes the president and six other ministers, announced that it is "taking action against an excessive rise in prices in the real estate market and exorbitant mortgage debt" that threatens Swiss banks and the economy. AP Photo/Keystone,Peter Schneider The nation's governing Federal Council in Bern, Switzerland, which includes the president and six other ministers, announced it is "taking action against an excessive rise in prices in the real estate market and exorbitant mortgage debt" that threatens Swiss banks and the economy. (www.immigrantscanada.com). As reported in the news.