ZURICH, Nov 29 (Reuters) - Switzerland's regulator, FINMA, said it is following the events surrounding Signa, after the property and retail giant declared insolvency on Wednesday.
FINMA declined to comment on the details of its supervisory activities for individual institutions.
"FINMA is following the events surrounding the Signa Group," the regulator said. "It is in contact with various supervised institutions in this regard."
Signa, controlled by an Austrian magnate, has borrowed heavily from banks including Julius Baer, which on Monday disclosed it had an exposure of more than 600 million Swiss francs, the largest in its private debt loan book, to a European conglomerate.
The wealth manager's shares have dropped more than 20% since last week when it revealed it has in November already booked 70 million francs in provisions against its credit portfolio.
(Reporting by Noele Illien)