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Swiss National Bank President Schlegel: We are willing to intervene in the foreign exchange market if necessary.

2026-09-24

Swiss National Bank President Schlegel: We are willing to intervene in the foreign exchange market if necessary.

Other News
2026-09-24

Saudi civil defense officials said the danger in Mecca, Taif, Jeddah, Yanbu, and Tabuk has been averted.

Saudi civil defense officials said the danger in Mecca, Taif, Jeddah, Yanbu, and Tabuk has been averted.
2026-09-24

Some local small banks are actively reducing stock of out-of-province deposits, cutting them on a quarterly basis while shifting funding toward in-province customers, a private-bank insider said. Regulators in July instructed some local commercial an

Some local small banks are actively reducing stock of out-of-province deposits, cutting them on a quarterly basis while shifting funding toward in-province customers, a private-bank insider said. Regulators in July instructed some local commercial and private banks on local-customer determination: of five elements — ID address, habitual residence, primary business location, mobile-number registration location and device-location data — at least three must match to qualify as a local client. The guidance bars banks from taking on new non-local business; existing non-local business must be fully wound down by end-2027 and may not be extended via rollovers or restructurings. Regulators said the covers deposits as well as requirement loans and expects natural runoff, allowing a transition period rather than an immediate blanket cut-off.
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