Implications of the Credit Suisse takeover
The takeover of Credit Suisse by UBS and the measures taken by the Swiss authorities were of far-reaching importance to the financial centre. Switzerland succeeded in restoring stability through targeted, effective action. At the same time, however, the Swiss Bankers Association (SBA) sees a clear need for a full, independent inquiry into the events that led to this situation, covering all relevant parties, that is allowed to reach its own conclusions.
The SBA understands the emotional resonance of the debate over the Credit Suisse takeover as well as the questions and concerns it has raised. With this in mind, it is calling for an inquiry into the events that led to the takeover and the government measures involved, conducted if necessary by a parliamentary investigation committee, that is allowed to reach its own conclusions. A precise understanding of what happened is needed in order to formulate recommendations on how to improve regulation and determine responsibilities. The stability and prosperity of the financial centre are vital to the Swiss economy as a whole.
Our topic page outlines the SBA’s position on the solution that has been worked out as well as on the current political agenda and issues. It will be updated on an ongoing basis.