The Swiss government is to lay out tougher capital requirements for ubs and credit suisse by the year-end, which are designed to protect the banks against future crises. Switzerland has been at the forefront of efforts by policymakers and regulators to ensure banks do not become so big and interconnected with the international financial system that they would need rescuing with taxpayer cash if they run into trouble. Solving the "too big to fail" problem has been a priority for regulators in the US and Europe after several banks, including Zurich-based UBS, were bailed out in the 2007-09 financial crisis. "Additional measures and adjustments are required to boost the resilience of systemically important banks further and to make their restructuring or orderly resolution possible without taxpayers incurring any costs," the Swiss government said in a statement. The plans are part of a review of Switzerland's existing rules on how much capital banks deemed too big to fail have to hold. These have been in place since 2012. UBS and Credit Suisse welcomed the measures, but both said Switzerland should not press ahead with its plans before international regulators make their own requirements. They also said the government should make sure the proposed rules did not cause any damage to the Swiss financial sector.
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