FINMA Extends Protective Measures at Sberbank Until September 2022
The Swiss Financial Market Supervisory Authority (FINMA) is extending the duration of its measures at Sberbank (Switzerland) AG until September 01, 2022.
FINMA had, on March 04, 2022, announced that it had taken protective measures at Sberbank (Switzerland) AG to protect the bank’s creditors. These included a deferral of the bank’s obligations from deposits and a wide-ranging ban on payments and transactions. These measures were already extended on June 01, 2022. After the measures were partially lifted for a short time so that the bank could settle claims of non-sanctioned creditors, the measures are now being extended until September 01, 2022, owing to heightened international sanctions. The investigating agent appointed by FINMA will continue to perform its duties.
Related Link: Press Release
Keywords: Europe, Switzerland, Banking, Credit Risk, Sberbank, FINMA
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