Big Swiss banks need work on leverage ratios: SNB

BERN: Switzerland's two big banks - UBS and Credit Suisse - are on track to meet "too big to fail" rules but still need to improve their ability to absorb losses, Swiss National Bank Vice Chairman Fritz Zurbruegg said on Thursday.

"Both Credit Suisse and UBS already comply fully with the final, risk-weighted requirements. However, further improvements are needed with respect to the leverage ratio," Zurbruegg said in comments prepared for a speech at the central bank's latest monetary policy assessment.