Finma to Appeal Court Decision on Credit Suisse AT1s

Swiss financial regulator Finma said it would appeal against a decision by the Federal Administrative Court to revoke the watchdog’s 2023 order to wipe-out $20 billion of bonds issued by Credit Suisse.

“The write-down was part of an overall package to stabilize Credit Suisse via a merger with UBS Group AG, for which extraordinary state support measures were necessary,” Finma said in a statement on Wednesday.