Swiss finance faces “manageable” first-round effects from Ukraine conflict, financial market supervisor says

The symbol of Swiss Economical Current market Supervisory Authority FINMA is noticed exterior their headquarters in Bern, Switzerland April 5, 2016. REUTERS/Ruben Sprich

BERN, April 5 (Reuters) – When Swiss economic firms’ enterprise ties to Russia are “not insignificant”, money sector supervisor FINMA does not at the moment foresee a wide-scale danger to the Swiss fiscal market and its security thanks to Russia’s invasion of Ukraine, FINMA’s new boss explained on Tuesday.

“In respect of the Ukraine war, we can summarise by declaring that this conflict poses numerous threats for the Swiss money sector and accentuated threats for individual institutions,” FINMA Chief Govt City Angehrn stated in remarks geared up for the watchdog’s yearly media conference, his 1st since assuming the position. “In general the hazards to the financial centre from initially round consequences are workable. We are continuing to monitor the circumstance to see irrespective of whether the war has further, oblique outcomes on the economic marketplaces.”

Reporting by Brenna Hughes Neghaiwi

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