The recent report on Credit Suisse's collapse has sparked a heated debate among political parties in Switzerland.

Concerns about the Creation of a "Megabank"

Left-wing and Green parties are concerned about the creation of a "megabank" after UBS acquired Credit Suisse with state support. They argue that the consolidation of these financial giants poses significant risks to the Swiss economy and are calling for the development of "too big to fail" legislation.

The Green Party's Proposal: "Lex UBS"

The Green Party specifically proposes a "Lex UBS" to address the challenges posed by the newly formed mega-bank. They emphasize the need for strict regulations on management practices, sufficient capital reserves, and increased liquidity.

The Socialist Party's Concerns

The Socialist Party (SP) shares these concerns and considers UBS an "unbearable risk" for the nation. They criticize the bank's management for a "self-service mentality" and propose a complete ban on bonuses at UBS.

Support from the Green-liberals

The Green-liberals support the proposed measures but stress that regulation alone cannot solve poor management. They call on the Federal Council, Swiss National Bank (SNB), and Swiss Financial Market Supervisory Authority (FINMA) to take their supervisory responsibilities more seriously.

The PLR's Stance

The PLR welcomes the CEP's stance against indiscriminate calls for increased capitalization of systemically important banks and believes that FINMA should focus on effectively applying existing supervisory tools. Economiesuisse, representing the business community, warns against excessive regulatory measures and highlights the importance of UBS in supporting Switzerland's export sector.

Accountability Issues within the Federal Department of Finance (FDF)

The Credit Suisse debacle has also raised accountability issues within the Federal Department of Finance (FDF). Critics accuse former Federal Councillor Ueli Maurer of negligence, citing a lack of communication and failure to establish a liquidity safety net.

The Swiss People's Party's Stance

The Swiss People's Party (SVP) has chosen not to engage with the report's findings.

Calls for Banking Regulation Reform

The fallout from the Credit Suisse crisis has led to calls for banking regulation reform in Switzerland, with concerns about the stability of the financial system. The actions taken in the coming months will be crucial in addressing the challenges posed by the country's largest financial institutions and the potential risks they present to the broader economy.