The PUK has conducted a thorough investigation into the Credit Suisse crisis, including testimonies from key individuals involved. The committee aims to learn from this crisis and has prepared recommendations to be presented to the Federal Council.
The PUK has raised concerns about the regulatory tools and authority responses during the crisis, particularly the lack of essential mechanisms and the hesitance to introduce a state liquidity backstop. The role of the Swiss National Bank as a lender of last resort has also been scrutinized, with suggestions that the central bank exhibited excessive caution.
The PUK has criticized the communication practices of the SNB and FINMA, highlighting their failure to adequately inform political authorities about the crisis. The committee has also questioned the appropriateness of informal meetings between the Finance Minister and the SNB Chairman.
The PUK has raised concerns about the lack of thorough communication and accountability of government officials during the crisis. The committee acknowledges that authorities had prepared multiple options for crisis management, but emphasizes the need for improved cooperation and involvement of the Federal Council.
The PUK's recommendations aim to enhance information exchange, risk management, and early crisis detection mechanisms. The findings and recommendations from the PUK's extensive investigation will shape the future of financial governance in Switzerland.