The Swiss government's lower house on Thursday narrowly rejected a bill that sought to move 46B francs ($52B) of pension funds back under domestic control, according to a media report. The lower house voted 98-89 to keep State Street (NYSE:STT) as the custodian for the social security funds,

State Street Corp. will remain custodian of a 46 billion-franc ($52 billion) Swiss pension hoard after lawmakers narrowly rejected a bid to reassert domestic control as a guard against US strong-arming of the country.

The lower house in Bern voted 98-89 on March 13 in favor of preserving the Boston-based bank’s mandate for the social security funds. The majority dismissed fears that the administration of U.S. President Donald Trump could order State Street to withhold payments as a bargaining chip to pressure Switzerland.