SNB's Martin Sees Shift in Credit Demand to Swiss-Focused Banks Amid UBS Takeover

The takeover of Credit Suisse by UBS has led to a shift in the Swiss credit market, with clients moving loans to domestically focused banks. SNB Vice President Antoine Martin notes that the market has been able to meet demand, and the banking sector is adapting well to the shock. However, lenders are concerned about negative interest rates imposed by the SNB, which has cut its benchmark to zero and could reintroduce negative borrowing costs.