SNB vice-chair tells people to ‘fasten seatbelts’ following CCB activation
The activation of Switzerland's counter-cyclical capital buffer (CCB) was necessary, but achieving a soft landing as credit growth slows will be a challenge, Jean-Pierre Danthine, the vice-chairman of the Swiss National Bank's (SNB) governing board, warned yesterday.
At a speech in Geneva, Danthine said the decision to activate the CCB had been taken due to the rapid build-up of twin risks – rising house prices and credit growth. The ratio of credit-to-GDP in Switzerland has reached around 170%
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