The collapse of Credit Suisse on March 19, 2023, led to the formation of a parliamentary commission of inquiry (CEP) to investigate the circumstances surrounding the event.

Formation of the Commission

The CEP, chaired by State Councillor Isabelle Chassot, comprises a diverse group of political heavyweights who have spent over a year scrutinizing the events leading up to the bank's downfall.

The commission's findings are expected to shed light on the failures that led to the collapse and the implications for the Swiss financial system.

Scope of the Inquiry

The inquiry will examine the accountability of federal authorities, including the Federal Council, the Swiss National Bank (SNB), and the Swiss Financial Market Supervisory Authority (Finma), as well as the effectiveness of the "Too Big to Fail" regulation.

Testimonies from Former Executives

Former executives of Credit Suisse, including former chairmen Urs Rohner and Axel Lehman, as well as former CEOs Thomas Gottstein and Ulrich Körner, have been summoned to provide insights into the bank's internal decision-making processes.

Implications for Regulatory Practices

The inquiry's findings are expected to have significant implications for regulatory practices and the oversight of large financial institutions in Switzerland.

The report from the parliamentary commission of inquiry will provide valuable insights into the Credit Suisse collapse and its implications for banking regulation in Switzerland and beyond.