Finance
Interim Credit Suisse Review Blasts Finma and SNB, SZ Says
- Regulator said to be criticized for a lack of assertiveness
- Central bank should have seen liquidity issues earlier: paper
A Credit Suisse Group AG bank branch in Zurich.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
Preliminary conclusions of the Swiss parliamentary commission reviewing the 2023 collapse of Credit Suisse sharply criticize financial regulator Finma as well as the country’s central bank and the government, according to a report in SonntagsZeitung.
Authorities were unprepared to prevent or contain the break up of the company, even though the bank had been classified as systemically important for years and its problems had been obvious for many months, the newspaper reported.