ZURICH, May 19 (Reuters) - The global credit crisis has entered its "second half-time" and banks looked set to weather further aftershocks due to their capital measures, Swiss National Bank Vice-Chairman Philipp Hildebrand said on Monday.
"We are in the second half-time," Hildebrand said in a panel discussion at Zurich's Efficiency Club, using a football analogy.
Hildebrand added that forecasts for the coming years were extremely hard given the high uncertainties.
"The important thing is that banks are now in a position to absorb aftershocks (of the crisis)," Hildebrand said, pointing to the banks' measures to bolster their capital base.
(Reporting by Sven Egenter and Douwe Miedema)
((sven-markus.egenter@reuters.com; +41 58 306 7351; Reuters Messaging: sven-markus.egenter.reuters.com@reuters.net))
Keywords: UBS/HILDEBRAND
............................................................... For news and data, double-click on the codes in brackets. Access to some items may depend on subscription level. .............................................................. > ***SNAPSHOT - WORLD KEY OFFICIAL INTEREST RATES*** [INT/RATE] > FACTBOX-Global interest res [GLOBAL/INT] ............................................................... > ECB's Trichet sees ongoing, significant correction [nL1926285] > "More resilient" German economy set for growth-Buba [nL194042] > French Q2 growth to slow, confidence dips-c.bank [nL19554743] > ECB's Kranjec says euro zone economy is sound [nFAT004183] > BOJ to keep rates on hold with clouds over economy [nT305710] > PREVIEW-BoE minutes expected to show 8-1 vote to ho[nL1998785] > Swedish rates seen on hold in July, cut by end-yr [nL19618229] > Polish MPC should hike in May, probably won't-Noga[nWAR006888] > Poland has room for one more hike-MPC's Wojtyna[ID:nL19497788] > Czech c.banker Hampl: one more rate hike may help [nL19504004] > Serb cbank ups '09 core inflation target to 3-6 pc[nL19637963] > Ghana ups prime rate 175bp to curb fuel,food price[nL19195687] ............................................................... > The outlook for Federal Reserve policy [FED/AHEAD] > Reuters coverage of Basel II accord [ID:nL10281706] ............................................................... UPCOMING CENTRAL BANK MEETINGS, EVENTS | Fed June 24/25 | BOJ May 19/20 | | ECB June 5 | BoE June 4/5 | | BOC June 10 | RBA June 3 | | Riksbank* July 2 | RBNZ June 5 | | Swiss Nat Bank June 19 | Norges Bank May 28 | * Announcement July 3 > Major central bank events [CEN/DIARY] > Diary of emerging market central bank events [CEN/EMRG] ................................................................ REUTERS POLLS | US Fed Funds rate [FED/R] | ECB rates [ECB/INT] | | British rates [BOE/INT] | Canadian rates [CA/INT] | | Japanese rates [BOJ/INT] | Chinese rates [CNY/POLL] | | Australian rates [AU/INT] | Swiss rates [SNB/INT] | | Swedish rates [SE/INT] | South African rates [ZA/INT] | | Top poll news [POLL/] ............................................................... LATEST NEWS ON CENTRAL BANKS | Central bank news [CEN] | U.S. Federal Reserve [FED] | | Bank of Japan [BOJ] | European Central Bank [ECB] | | Swiss National Bank [SNB] | Bank of England [BOE] | | All forex news [FRX] | Economic indicators [ECI] | | Central Bank index<CENTRAL1>| Central bank rates<KEYRATES/1> | T ............................................................... CENTRAL BANKERS' COMMENTS | Federal Reserve[FED/QUOTES] | ECB [ECB/QUOTES]| | Bank of England[BOE/QUOTES] | Swiss National Bank[SNB/QUOTES]| | Sweden Riksbank[RIK/QUOTES] | ............................................................... DIARIES | Fed diary [FED/DIARY] | ECB diary [ECB/DIARY] | | Today's FX market[MI/DIARY] | Financial events [KEY/DIARY] | | Diary index [IND/DIARY] | Polling diary [POLL/DIARY] | .............................................................. WEB ADDRESSES Federal Reserve: http://www.federalreserve.gov/ Bank of Japan: http://www.boj.or.jp/en/index.htm European Central Bank: http://www.ecb.int/index.html Bank of England: http://www.bankofengland.co.uk/ Bank of Canada: http://www.bankofcanada.ca/en/ Swiss National Bank: http://www.snb.ch .............................................................. ((David Stamp; London Treasury Desk +44 207 542 7716))
............................................................... For news and data, double-click on the codes in brackets. Access to some items may depend on subscription level. .............................................................. > ***SNAPSHOT - WORLD KEY OFFICIAL INTEREST RATES*** [INT/RATE] > FACTBOX-Global interest res [GLOBAL/INT] ............................................................... > ECB's Trichet sees ongoing, significant correction [nL1926285] > "More resilient" German economy set for growth-Buba [nL194042] > French Q2 growth to slow, confidence dips-c.bank [nL19554743] > Swedish rates seen on hold in July, cut by end-yr [nL19618229] > BOJ to keep rates on hold with clouds over economy [nT305710] > BoE's Lomax to not serve second term-Treasury [ID:nL18135604] > Polish MPC should hike in May, probably won't-Noga[nWAR006888] > Poland has room for one more hike-MPC's Wojtyna[ID:nL19497788] > Czech c.banker Hampl: one more rate hike may help [nL19504004] > Serb cbank ups '09 core inflation target to 3-6 pc[nL19637963] > Financial markets still distorted-BIS exec [ID:nL1786902] ............................................................... > The outlook for Federal Reserve policy [FED/AHEAD] > Reuters coverage of Basel II accord [ID:nL10281706] ............................................................... UPCOMING CENTRAL BANK MEETINGS, EVENTS | Fed June 24/25 | BOJ May 19/20 | | ECB June 5 | BoE June 4/5 | | BOC June 10 | RBA June 3 | | Riksbank* July 2 | RBNZ June 5 | | Swiss Nat Bank June 19 | Norges Bank May 28 | * Announcement July 3 > Major central bank events [CEN/DIARY] > Diary of emerging market central bank events [CEN/EMRG] ................................................................ REUTERS POLLS | US Fed Funds rate [FED/R] | ECB rates [ECB/INT] | | British rates [BOE/INT] | Canadian rates [CA/INT] | | Japanese rates [BOJ/INT] | Chinese rates [CNY/POLL] | | Australian rates [AU/INT] | Swiss rates [SNB/INT] | | Swedish rates [SE/INT] | South African rates [ZA/INT] | | Top poll news [POLL/] ............................................................... LATEST NEWS ON CENTRAL BANKS | Central bank news [CEN] | U.S. Federal Reserve [FED] | | Bank of Japan [BOJ] | European Central Bank [ECB] | | Swiss National Bank [SNB] | Bank of England [BOE] | | All forex news [FRX] | Economic indicators [ECI] | | Central Bank index<CENTRAL1>| Central bank rates<KEYRATES/1> | T ............................................................... CENTRAL BANKERS' COMMENTS | Federal Reserve[FED/QUOTES] | ECB [ECB/QUOTES]| | Bank of England[BOE/QUOTES] | Swiss National Bank[SNB/QUOTES]| | Sweden Riksbank[RIK/QUOTES] | ............................................................... DIARIES | Fed diary [FED/DIARY] | ECB diary [ECB/DIARY] | | Today's FX market[MI/DIARY] | Financial events [KEY/DIARY] | | Diary index [IND/DIARY] | Polling diary [POLL/DIARY] | .............................................................. WEB ADDRESSES Federal Reserve: http://www.federalreserve.gov/ Bank of Japan: http://www.boj.or.jp/en/index.htm European Central Bank: http://www.ecb.int/index.html Bank of England: http://www.bankofengland.co.uk/ Bank of Canada: http://www.bankofcanada.ca/en/ Swiss National Bank: http://www.snb.ch .............................................................. ((David Stamp; London Treasury Desk +44 207 542 7716))
...............................................................
For news and data, double-click on the codes in brackets.
Access to some items may depend on subscription level.
..............................................................
> ***SNAPSHOT - WORLD KEY OFFICIAL INTEREST RATES*** [INT/RATE]
> FACTBOX-Global interest res [GLOBAL/INT]
...............................................................
FED
> Fed's Lockhart sees hope that inflation slowing [nN16384387]
> BBA discusses Libor with c.banks as review nears [nL16803212]
> Fed seen winning OK to pay interest on reserves [nN16397676]
ECB
> ECB's Trichet sees very clear inflation pressure [nL16546691]
> ECB's Liebscher-supports steady hand policy on rates[nWEB5577]
> ECB's Mersch says sees slight Q2 growth slowdown [nWEB5569]
> Constancio says no risk of European recession [nL16580858]
> HIGHLIGHTS-ECB's Constancio says hard to forecast [nL16845591]
> HIGHLIGHTS-Brussels Economic Forum discussions [nL16501453]
> EU business not complaining about ECB - employers [nL16103682]
> Austria sees no cause for worry on ECB collateral [nL16837718]
OTHER CENTRAL BANK NEWS
> BoE restates no upper limit on mortgage swap plan [nL16524349]
> Mexican central bank holds interest rate steady [nN16402526]
> Danish c.bank ups leading interest rate by 10 bps [nL16279785]
> Icelandic central bank wins Nordic peers' support [nL16873331]
> Hungary cbankers split over rates, all see risk [nL16138867]
> Hungary cbank to defend CPI goal, credibility [nL16265637]
> Czech c.bank sees gradual crown rise in 2008, 2009[nPRG000808]
> TEXT-Minutes from Czech c.bank May 7 board meeting[nL16243359]
> Thai c.bank seen keeping rates steady next week [nBKK52886]
> Mexico seen holding key interest rate [ID:nN15306407]
...............................................................
> The outlook for Federal Reserve policy [FED/AHEAD]
> Reuters coverage of Basel II accord [ID:nL10281706]
...............................................................
UPCOMING CENTRAL BANK MEETINGS, EVENTS
| Fed June 24/25 | BOJ May 19/20 |
| ECB June 5 | BoE June 4/5 |
| BOC June 10 | RBA June 3 |
| Riksbank* July 2 | RBNZ June 5 |
| Swiss Nat Bank June 19 | Norges Bank May 28 |
* Announcement July 3
> Major central bank events [CEN/DIARY]
> Diary of emerging market central bank events [CEN/EMRG]
................................................................
REUTERS POLLS
| US Fed Funds rate [FED/R] | ECB rates [ECB/INT] |
| British rates [BOE/INT] | Canadian rates [CA/INT] |
| Japanese rates [BOJ/INT] | Chinese rates [CNY/POLL] |
| Australian rates [AU/INT] | Swiss rates [SNB/INT] |
| Swedish rates [SE/INT] | South African rates [ZA/INT] |
| Top poll news [POLL/]
...............................................................
LATEST NEWS ON CENTRAL BANKS
| Central bank news [CEN] | U.S. Federal Reserve [FED] |
| Bank of Japan [BOJ] | European Central Bank [ECB] |
| Swiss National Bank [SNB] | Bank of England [BOE] |
| All forex news [FRX] | Economic indicators [ECI] |
| Central Bank index<CENTRAL1>| Central bank rates<KEYRATES/1> |
T ...............................................................
CENTRAL BANKERS' COMMENTS
| Federal Reserve[FED/QUOTES] | ECB [ECB/QUOTES]|
| Bank of England[BOE/QUOTES] | Swiss National Bank[SNB/QUOTES]|
| Sweden Riksbank[RIK/QUOTES] |
...............................................................
DIARIES
| Fed diary [FED/DIARY] | ECB diary [ECB/DIARY] |
| Today's FX market[MI/DIARY] | Financial events [KEY/DIARY] |
| Diary index [IND/DIARY] | Polling diary [POLL/DIARY] |
..............................................................
WEB ADDRESSES
Federal Reserve: http://www.federalreserve.gov/
Bank of Japan: http://www.boj.or.jp/en/index.htm
European Central Bank: http://www.ecb.int/index.html
Bank of England: http://www.bankofengland.co.uk/
Bank of Canada: http://www.bankofcanada.ca/en/
Swiss National Bank: http://www.snb.ch
..............................................................
((David Stamp; London Treasury Desk +44 207 542 7716))
...............................................................
For news and data, double-click on the codes in brackets.
Access to some items may depend on subscription level.
..............................................................
> ***SNAPSHOT - WORLD KEY OFFICIAL INTEREST RATES*** [INT/RATE]
> FACTBOX-Global interest res [GLOBAL/INT]
...............................................................
FED
> Fed's Lockhart sees hope that inflation slowing [nN16384387]
> BBA discusses Libor with c.banks as review nears [nL16803212]
ECB
> ECB's Trichet sees very clear inflation pressure [nL16546691]
> ECB's Liebscher-supports steady hand policy on rates[nWEB5577]
> ECB's Mersch says sees slight Q2 growth slowdown [nWEB5569]
> Constancio says no risk of European recession [nL16580858]
> HIGHLIGHTS-ECB's Constancio says hard to forecast [nL16845591]
> HIGHLIGHTS-Brussels Economic Forum discussions [nL16501453]
> EU business not complaining about ECB - employers [nL16103682]
> Austria sees no cause for worry on ECB collateral [nL16837718]
OTHER CENTRAL BANK NEWS
> BoE restates no upper limit on mortgage swap plan [nL16524349]
> Mexican central bank holds interest rate steady [nN16402526]
> Danish c.bank ups leading interest rate by 10 bps [nL16279785]
> Icelandic central bank wins Nordic peers' support [nL16873331]
> Hungary cbankers split over rates, all see risk [nL16138867]
> Hungary cbank to defend CPI goal, credibility [nL16265637]
> Czech c.bank sees gradual crown rise in 2008, 2009[nPRG000808]
> TEXT-Minutes from Czech c.bank May 7 board meeting[nL16243359]
> Thai c.bank seen keeping rates steady next week [nBKK52886]
> Mexico seen holding key interest rate [ID:nN15306407]
...............................................................
> The outlook for Federal Reserve policy [FED/AHEAD]
> Reuters coverage of Basel II accord [ID:nL10281706]
...............................................................
UPCOMING CENTRAL BANK MEETINGS, EVENTS
| Fed June 24/25 | BOJ May 19/20 |
| ECB June 5 | BoE June 4/5 |
| BOC June 10 | RBA June 3 |
| Riksbank* July 2 | RBNZ June 5 |
| Swiss Nat Bank June 19 | Norges Bank May 28 |
* Announcement July 3
> Major central bank events [CEN/DIARY]
> Diary of emerging market central bank events [CEN/EMRG]
................................................................
REUTERS POLLS
| US Fed Funds rate [FED/R] | ECB rates [ECB/INT] |
| British rates [BOE/INT] | Canadian rates [CA/INT] |
| Japanese rates [BOJ/INT] | Chinese rates [CNY/POLL] |
| Australian rates [AU/INT] | Swiss rates [SNB/INT] |
| Swedish rates [SE/INT] | South African rates [ZA/INT] |
| Top poll news [POLL/]
...............................................................
LATEST NEWS ON CENTRAL BANKS
| Central bank news [CEN] | U.S. Federal Reserve [FED] |
| Bank of Japan [BOJ] | European Central Bank [ECB] |
| Swiss National Bank [SNB] | Bank of England [BOE] |
| All forex news [FRX] | Economic indicators [ECI] |
| Central Bank index<CENTRAL1>| Central bank rates<KEYRATES/1> |
T ...............................................................
CENTRAL BANKERS' COMMENTS
| Federal Reserve[FED/QUOTES] | ECB [ECB/QUOTES]|
| Bank of England[BOE/QUOTES] | Swiss National Bank[SNB/QUOTES]|
| Sweden Riksbank[RIK/QUOTES] |
...............................................................
DIARIES
| Fed diary [FED/DIARY] | ECB diary [ECB/DIARY] |
| Today's FX market[MI/DIARY] | Financial events [KEY/DIARY] |
| Diary index [IND/DIARY] | Polling diary [POLL/DIARY] |
..............................................................
WEB ADDRESSES
Federal Reserve: http://www.federalreserve.gov/
Bank of Japan: http://www.boj.or.jp/en/index.htm
European Central Bank: http://www.ecb.int/index.html
Bank of England: http://www.bankofengland.co.uk/
Bank of Canada: http://www.bankofcanada.ca/en/
Swiss National Bank: http://www.snb.ch
..............................................................
((David Stamp; London Treasury Desk +44 207 542 7716))
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