Statement on the «Federal Council's decision to implement the final Basel III standard»
The Swiss Bankers Association is irritated by the Federal Council's decision to implement the final Basel III standard as of 1 January 2025. Switzerland is thus forging ahead without need. It is putting the Swiss financial centre at a disadvantage by weakening its competitiveness compared to other international and important financial centres. Relevant core markets such as the EU, UK and USA are introducing the Basel III standard or significant parts of them later or the date of introduction is not yet known. It is the task of the Federal Council to ensure attractive and internationally compatible framework conditions that enable the financial centre to have a global reach. With today's decision, Switzerland is depriving itself of the opportunity to maintain a level playing field with important international financial centres.