A Swiss parliamentary report on how authorities handled Credit Suisse’s 2023 bankruptcy will be published on Friday, the Swiss parliament said on Wednesday.
The report of the parliamentary committee investigating the collapse of Credit Suisse has been eagerly awaited for months and the government says its findings will be taken into account in new rules to be drawn up to govern UBS, which acquired Credit Suisse.
In a statement, parliament said the parliamentary committee’s report would be released on December 20 and a press conference would also be organized.
A pillar of the Swiss financial establishment and the country’s second-largest bank, the 167-year-old Credit Suisse collapsed in a series of scandals that culminated in its takeover in March 2023 by UBS for a fraction of its previous value.
In June, Parliament took the rare step of forming a committee to examine the official response to the demise of Credit Suisse, and the government said it would not propose a bill until it had seen the conclusions of parliamentarians.
The government outlined its vision earlier this year in a “too big to fail” report which outlined a series of proposals aimed at making the banking sector less risky.
Local
Swiss
