Swiss Financial Market Supervisory Authority FINMA finds Raiffeisen and Zürcher Kantonalbank emergency plans compliant while PostFinance remains not ready to implement

The Swiss Financial Market Supervisory Authority (FINMA) published the results of its annual assessment of emergency and recovery plans for Switzerland’s domestic systemically important banks, based on plans submitted in 2024. FINMA found the emergency plans of Zürcher Kantonalbank (ZKB) and Raiffeisen to meet regulatory requirements, while PostFinance’s emergency plan is still not ready to implement; FINMA approved the recovery plans for all three institutions. For PostFinance, FINMA identified insufficient recapitalisation capacity to cover expected losses at the point the emergency plan would be activated; PostFinance has been building up the necessary funds since 2024 and expects to continue until the end of 2025. FINMA also requires PostFinance to improve crisis optionality, including an alternative strategy demonstrating how systemically important functions would continue if restructuring is not possible, noting the current alternative strategy does not meet its requirements. In reviewing recovery plans, FINMA placed particular emphasis on triggers for recovery measures and scenario analysis following the Credit Suisse crisis, and indicated it has revised its assessment practice for recovery plans in dialogue with the institutions and will apply this from the next assessment cycle. FINMA said it will report separately on UBS’s crisis planning in autumn 2025.