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Swiss Banking Crisis Highlights Regulatory Failures and Insufficient Deposit Protection

Switzerland's deposit protection scheme, officially guaranteeing up to 100,000 francs, was severely underfunded, with only 6 billion francs available. Despite multiple warnings about the risks posed by major banks, regulatory measures were weakened, leading to a crisis where Credit Suisse faced a bank run, necessitating a 250 billion franc government and SNB intervention for its takeover by UBS.
21:42 07.12.2024
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