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Abrupter Abgang bei der SIX

Bei der SIX scheiden zwei Schwergewichte Knall auf Fall aus der Konzernleitung aus. Es handelt sich zum einen um Javier Hernani, der die spanische Börse in den Konzern brachte, und zum anderen um den langjährigen Chief Risk Officer Jochen Dürr.

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“Pricing Liquidity Support: A PLB for Switzerland” (with Cyril Monnet and Remo Taudien), UniBe DP, 2025

With Cyril Monnet and Remo Taudien. University of Bern Discussion Paper 25.01, January 2025. PDF. The proposed revision of the Swiss Banking Act introduces a public liquidity backstop (PLB) for distressed systemically important banks (SIBs), in part to facilitate resolution. We examine the impact of the PLB on fiscal balances, societal welfare, and the incentives of bank shareholders and management. A PLB, like too-big-to-fail (TBTF) status, acts as a subsidy for non-convertible...

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