2012-05-10

Controls for banks establishing money market funds

In a nutshell, Switzerland introduced this policy. It requires Swiss banks to cease operations if their credit rating falls below "BB / 0". The regulation applies for one year from the date of its publication. To clarify further: This new policy, published on June 21, 2008 (0/ 2008 in some references), requires all Swiss banks to cease their operations if their credit rating falls below "BB / 0". The regulation is valid for one year starting from the date of its announcement. To put it simply: If a Swiss bank's credit rating falls below the minimum level ("BB / 0"), they must stop doing business. This new policy went into effect on June 21, 2008 and will remain active until June 21, 2009.

Egypt

Central Bank of Egypt

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