BERN Dec 15 Swiss big banks UBS and
Credit Suisse need to further strengthen their
resilience through the accumulation of high-trigger contingent
convertible capital instruments (CoCos), Swiss National Bank
Vice Chairman Fritz Zurbruegg said on Thursday.
"The further strengthening of resilience through the
accumulation of high-trigger CoCos, as foreseen by the
regulations, is important and necessary," Zurbruegg said,
according to remarks prepared for a media conference following
the SNB's decision to keep rates at very low levels.
He said the big banks' loss potential remained substantial
relative to their capitalisation despite a slight improvement in
their capital situation since June.
(Reporting by Silke Koltrowitz; Editing by Michael Shields)