FINMA Extends Protective Measures at Sberbank (Switzerland) AG Until August 2

The Swiss Financial Market Supervisory Authority FINMA is extending the duration of its measures to protect the creditors of Sberbank (Switzerland) AG until 2 August 2022.

On 4 March 2022, FINMA announced that it had taken protective measures at Sberbank (Switzerland) AG. These included a deferral of the bank's obligations from deposits and a wide-ranging ban on payments and transactions. The validity period of these measures was already extended until the end of May 2022. The measures will remain in place until 2 August 2022 owing to heightened international sanctions and the continuing risks for the bank's liquidity situation. The investigating agent appointed by FINMA will continue to perform their duties.

​Earlier this month, FINMA announced amendment to the FINMA Financial Market Infrastructure Ordinance, as Fazzaco reported.