Switzerland has released a comprehensive parliamentary report following an extensive 18-month inquiry into the collapse of Credit Suisse.

Recommendations for Future Crises

The report outlines 30 recommendations aimed at preventing future crises and emphasizes the need for a reevaluation of the regulatory framework governing the banking sector.

• Reassess "too-big-to-fail" regulations
• Advocate for legislation prioritizing financial market stability
• Ensure the viability of the Swiss financial system

Management Accountability and Regulatory Oversight

The report highlights the importance of management accountability and regulatory oversight, suggesting measures such as:

• Limiting bonus payments during periods of poor performance
• Enhancing shareholders' influence on stability-related issues

Criticism of Swiss Financial Regulator

The report criticizes the Swiss financial regulator, FINMA, for its leniency towards Credit Suisse and recommends empowering FINMA with greater authority.

Establishing a Public Liquidity Backstop

The report emphasizes the necessity of establishing a public liquidity backstop and improving information-sharing protocols among key Swiss officials.

Future of Banking Regulation in Switzerland

The findings of this parliamentary inquiry reflect a commitment to reforming Switzerland's financial regulatory framework and will shape the future of banking regulation in the country.