The collapse of Credit Suisse has caused concern in the financial world and raised questions about the management of the Swiss banking sector and its regulatory framework.
A Parliamentary Commission of Inquiry (ICC) is conducting a comprehensive investigation into the actions of various authorities involved in the bank's downfall and subsequent merger with UBS. This inquiry, initiated by Parliament in June 2023, is only the fifth of its kind in Swiss history.
The ICC is primarily focusing on the actions of the Federal Council, the Federal Administration, and regulatory bodies such as FINMA and the SNB. The report is expected to highlight the shortcomings of these institutions and could lead to significant changes in the regulatory landscape.
The inquiry will also examine the actions of key figures, including former CEO Tidjane Thiam, former Federal Councilor Ueli Maurer, Karin Keller-Sutter, Marlene Amstad, and former SNB President Thomas Jordan.
The report will assess the role of regulatory bodies and propose remedies to prevent similar crises in the future. The findings of the report could have consequences for regulatory leaders, particularly Marlene Amstad.
The collapse of Credit Suisse has prompted calls for reforms in the financial system, and the ICC's report is expected to drive discussions on regulatory oversight and the management of systemic risks in the banking sector.
The release of the report is a crucial moment for Credit Suisse and the Swiss financial landscape, with a focus on accountability, regulatory reform, and the future stability of the banking sector.