Swiss lawmakers agree to ban bonuses at too-big-to-fail banks
Reading time 1 min Christian Fernsby ▼ | May 4, 2023The House of Representatives passed a bill on Tuesday to ban systemically relevant banks from paying some bonuses, limiting payouts for top executives and risk managers.
Switzerland House of Representatives
The implicit state guarantee received by large banks means that any risk such institutions take ultimately falls to taxpayers, said Prisca Birrer-Heimo of the Social Democrats, who submitted the proposal. ■
"The way a team plays as a whole determines its success. You may have the greatest bunch of individual stars in the world, but if they don't play together, the club won't be worth a dime."
