FINMA extends protective measures at Sberbank (Switzerland) AG

The Swiss Financial Market Supervisory Authority FINMA is extending the duration of its measures to protect the creditors of Sberbank (Switzerland) AG until 2 August 2022.

On 4 March 2022, FINMA announced that it had taken protective measures at Sberbank (Switzerland) AG. These included a deferral of the bank’s obligations from deposits and a wide-ranging ban on payments and transactions (cf. press release). The validity period of these measures was already extended until the end of May 2022 (cf. news). The measures will remain in place until 2 August 2022 owing to heightened international sanctions and the continuing risks for the bank’s liquidity situation. The investigating agent appointed by FINMA will continue to perform their duties.