ZURICH, April 7 (Reuters) - Switzerland’s FINMA is monitoring recent large trading losses at major Swiss banks, the head of the financial watchdog said on Thursday.
“In the fourth quarter and at the start of the year, the environment for the trading business was very difficult,” Mark Branson told the supervisor’s annual news conference.
“Several banks, including Swiss banks, have suffered losses here. Credit Suisse was strong in the American credit business, proportionally speaking. That is a topic for us in our oversight.”
Reporting by Joshua Franklin; Editing by Michael Shields