UBS will be revising its contingency and stability plans after acquiring Credit Suisse, as required by FINMA.

The regulatory body has stressed the importance of UBS learning from the crisis faced by Credit Suisse, particularly regarding the significant withdrawal of deposits.

As a result, FINMA has temporarily suspended the annual assessment of UBS's stabilization plans for 2024, highlighting the need for a reassessment of these strategies.

The urgency for improved crisis preparedness follows an emergency meeting held by Swiss authorities in March 2023 to prevent Credit Suisse's bankruptcy.

UBS acquired the bank for 3 billion Swiss francs, which has raised concerns about its increased dominance in the banking sector and its potential impact on the Swiss economy during future financial crises.