So 'safer than a swiss bank' (and implicitly the swiss government) was a bit of an overstatement? Or do you still maintain that BTS has a lower systemic risk than a swiss bank/the swiss government?

I've only seen BTS comments relating to counterparty risk. Systemic risk not being mentioned, only allusions to BTS being equal to an insurance company or Fortune 500 company or other organisation that has significantly less risk of collapsing around you. And, presumably, hoping the reader equates the risk between the two as equal by association.