BERLIN (Reuters) – The Swiss authorities on Friday adopted amendments to its liquidity ordinance to make sure systemically necessary banks can higher climate occasions such because the COVID-19 pandemic in future.

“The revision is meant to make sure that systemically necessary banks maintain enough liquidity to soak up liquidity shocks and canopy their wants within the occasion of restructuring or liquidation,” the Swiss Federal Council stated in a press release.

One change is that banks deemed systemically necessary now have to carry enough liquidity to climate a 90-day liquidity disaster, as an alternative of the 30-day threshold beforehand, it stated.