(MENAFN- Swissinfo) In March 2023, Credit Suisse collapsed. An uncontrolled bankruptcy could only be prevented by big government aid and an emergency merger with competitor UBS. Switzerland is now waiting for a parliamentary inquiry report to reveal who was at fault as the bank disintegrated.
This content was published on March 14, 2024 - 14:52 4 minutes
Deutsch de Credit-Suisse-Kollaps: Die Aufarbeitung in der Schweiz verzögert sich Original Read more: Credit-Suisse-Kollaps: Die Aufarbeitung in der Schweiz verzögert sich
For some, Credit Suisse's management and ex-chairman Axel Lehmann are solely to blame for the collapse. For others, Switzerland's Financial Market Supervisory Authority (FINMA), led by Marlene Amstad, failed in its oversight task. For others again, former Swiss Finance Minister Ueli Maurer should have intervened earlier.
+ Who is to blame for the demise of Credit Suisse? The suspects.
Meanwhile, hardly anyone criticises the Swiss National Bank (SNB) President Thomas Jordan, despite the fact that he is responsible for financial stability in the country.
In March 2023, the SNB granted the ailing Credit Suisse a credit line of up to CHF250 billion ($285 billion) to protect it from uncontrolled collapse.
Inquiry report delayed
Switzerland is currently waiting for a report by the parliamentary inquiry committee into the bank's demise.
Chaired by Centre party politician Isabelle Chassot, the committee comprises a total of 14 parliamentarians who are examining the facts of the emergency takeover by UBS.
More More Let's Talk: What next after the Credit Suisse debacle?
This content was published on May 5, 2023 The Let's Talk debate webcast examines the implications of the Credit Suisse failure for Switzerland and its financial centre.
Read more: Let's Talk: What next after the Credit Suisse debacle?
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