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Crisis not over: Swiss regulator.

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Banks will need a strong capital base as the credit crisis continues to unfold, says Swiss regulator Daniel Zuberbuehler.

The head of the Swiss Banking Authority (EBK), Zuberbuehler told the NZZ am Sonntag that the subprime crisis in high-risk home mortgages could spread to credit cards, auto financing, student loans or commercial credit. "The danger is not over yet," he said.

Zuberbuehler also sits on the Basel Committee on Banking Supervision, which sets standards for international banks concerning how much capital they should set aside against risks. He and the EBK have been in almost daily contact with Switzerland's largest bank, UBS AG.

Among Europe's banks, UBS is the largest sub-prime casualty so far, having announced a SFr 11.5 billion write-down in early...

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