Swiss National Bank said on Thursday that Credit Suisse and UBS must cut their debt levels. The Swiss National Bank said that the companies' levels of debt had halted their shareholder payout policy.

In 2008, Swiss banks have pruned assets, cut their investing banking arms and increased capital. This was done to meet stricter rules spawned by the global financial crisis. Swiss authorities added extra regulations after the state had to bail out UBS in that same year.

The central bank urged UBS and Credit Suisse to stay on course with their planned measures. The Swiss National Bank stated that said measures are likely to lead to a substantial leverage improvement by year end. Credit Suisse and UBS are major contributors to Swiss GDP.

A reported leverage ratio of 3.8% for both Credit Suisse and UBS was reported at the end of the first quarter. The market regulator for Swiss Financial required 4.3% by 2019.