Swiss perspectives in 10 languages

Swiss government to draw up Credit Suisse report

UBS and Credit Suisse
The rushed takeover of Credit Suisse by UBS has shaken confidence in the Swiss financial centre. © Keystone / Michael Buholzer

The Swiss government says it will present a full report on the near collapse of Credit Suisse to parliament within 12 months.

Several parliamentary committees and political parties have demanded answers about the emergency takeover of Switzerland’s second largest bank by rival UBS.

+ Relive the drama of the Credit Suisse takeover

On Thursday, the Federal Council said it would respond to demands for information with a comprehensive report on the situation.

The review of ‘too big to fail’ banks will examine whether current regulations in Switzerland are sufficient.

It will also look into the role of ministers, the central bank and regulators in the Credit Suisse debacle that has shaken confidence in the Swiss banking system.

On Wednesday, the government ordered Credit Suisse to cancel or slash bonuses it planned to pay to senior staff.

Parliament will stage a special debate on the Swiss financial centre next week.

Parliamentarians will vote on a CHF109 billion ($120 billion) bailout package to support the rescue of Credit Suisse.

More


Popular Stories

Most Discussed

News

films

More

Swiss films made their mark abroad in 2024

This content was published on Several Swiss films exceeded the 100,000 admissions mark worldwide in 2024 and received widespread praise at international film festivals.

Read more: Swiss films made their mark abroad in 2024

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here . Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR