The outlook for Switzerland's (Aaa stable) banking system has been changed to negative from stable, principally because the likelihood of support for senior creditors from the Swiss government in the event of need is diminishing, says Moody Investors Service in a new report published today. Moody's view reflects the government's move forward to implement a resolution framework allowing burden-sharing with creditors (bail-in) to resolve failing domestic banks. Moody's believes that the negative implications of diminishing support for senior creditors outweigh the otherwise more positive elements that will continue to ... (full story)