ZURICH (Reuters) – A Swiss parliamentary report on how authorities dealt with the 2023 collapse of Credit score Suisse will likely be printed on Friday, the Swiss parliament mentioned on Wednesday.
The report from the parliamentary committee inspecting the Credit score Suisse disaster has been eagerly awaited for months and the federal government says its findings will feed into new guidelines that will likely be drawn as much as govern UBS, which purchased Credit score Suisse.
In an announcement, Parliament mentioned the parliamentary committee’s report could be printed on December 20 and a parallel press convention would even be held.
A pillar of Switzerland’s monetary establishment and the nation’s second-largest financial institution, the 167-year-old Credit score Suisse collapsed in a sequence of scandals that culminated with its takeover in March 2023 by UBS for a fraction of its worth anterior.
In June, Parliament took the uncommon step of forming a committee to look at the official response to the demise of Credit score Suisse, and the federal government mentioned it could wait to suggest a invoice till it had taken under consideration the conclusions of the legislators.
The federal government outlined its imaginative and prescient earlier this 12 months in a “too large to fail” report which outlined a sequence of proposals designed to make the banking sector much less dangerous.
(Reporting by Dave Graham; enhancing by Matthias Williams)
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