The Swiss new capital requirements - why cheer?

Today Finma, the Swiss bank supervisor posted its new Leverage Ratio requirement,  see picture:

Switzerland has decided to set a TLAC of 10% of total exposure for its global systemically important banks: 5% for going concern and 5% for gone concern, in line with the TLAC proposal of the FSB.

Finma uses colourful language to announce that they are now taki…