Swiss Weighed Credit Suisse Bankruptcy Before Choosing UBS
- Finma says Credit Suisse had faced ‘unprecedented’ bank run
- Authority demanded higher liquidity buffers as early as 2020
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Switzerland’s banking regulator said it considered putting Credit Suisse Group AG into bankruptcy before deciding on the takeover by UBS Group AG, as the risk of contagion was too great.
Finma scoped out various rescue options before the day the bank was sold in the government-backed deal. The lender had faced an “unprecedented” bank run, Finma President Marlene Amstad said at a press conference on Wednesday in the Swiss capital Bern.