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Following the takeover of Credit Suisse, Swiss authorities have approved reforms to strengthen banking supervision and enhance FINMA's powers over systemically important institutions like UBS. The reforms include tighter "too big to fail" rules and increased capital requirements, aiming to prevent future financial crises. The Parliamentary Commission of Inquiry has called for lessons learned from the CS crisis to be implemented internationally, emphasizing the need for accountability and better management practices in large banks.
The National Council has unanimously praised the PUK report on the Credit Suisse crisis, adopting all motions aimed at reforming "too big to fail" rules and enhancing the assertiveness of FINMA. The PUK's findings highlighted mismanagement at CS and called for stronger capital requirements for systemically important banks. Federal President Karin Keller-Sutter acknowledged the PUK's work, noting that some proposals are already being implemented.
The National Council has unanimously praised the PUK report on the Credit Suisse crisis, adopting all motions to strengthen regulations for systemically important banks. Key proposals include amending "too big to fail" rules, enhancing FINMA's enforcement powers, and ensuring the resolvability of major banks to prevent future crises. The Federal Council is set to implement several of these recommendations.
UBS has faced criticism over CEO Sergio Ermotti's 2024 salary of CHF 14.9 million, despite a slight decrease in his bonus. Political figures and the proxy advisor Ethos have expressed concerns about high executive pay, with proposals to cap banking sector salaries gaining traction. Meanwhile, UBS is also navigating increased capital requirements to mitigate risks following the Credit Suisse integration.
The State Secretariat for Economic Affairs is investigating UBS's market power following its takeover of Credit Suisse, raising concerns about competition in the Swiss banking sector. The study will assess barriers to entry for competitors and the potential for price increases due to UBS's dominant position, particularly affecting corporate clients. The Competition Commission has warned that the merger could lead to noticeable price hikes, prompting close monitoring of UBS's practices.
UBS has intensified lobbying efforts to prevent new regulations following the Credit Suisse crisis, with significant donations to conservative parties raising concerns. The SP calls for a ban on party funding from UBS, arguing that it undermines regulatory independence and accountability. The PUK report highlights how bank lobbying contributed to regulatory fatigue, impacting the effectiveness of FINMA.
The Greens and Socialist Party have raised concerns over the risks posed by UBS following the Credit Suisse debacle, urging faster implementation of "too big to fail" legislation. They criticized UBS's management for excessive bonuses amid significant losses and called for stricter regulations. Meanwhile, the Federal Council and financial authorities are urged to enhance supervision to prevent future banking crises.
The Parliamentary Commission of Inquiry's report on Credit Suisse's collapse highlights years of mismanagement and calls for stronger regulations for systemically important banks. Reactions from political and business leaders emphasize the need for effective oversight, with some advocating for a "Lex UBS" to manage the risks posed by the newly formed mega-bank. The Federal Council acknowledges the report's findings and plans to incorporate them into future regulatory frameworks.
The PUK's report on the Credit Suisse crisis has sparked varied reactions from political parties, highlighting mismanagement by bank leaders and calling for stricter regulations. The FDP praises its Federal Councillor for crisis management, while the SP demands a ban on bonuses for UBS managers and compensation for taxpayers. The Greens and Center Party echo calls for enhanced oversight and accountability in the banking sector.
The Parliamentary Commission of Inquiry's report on the emergency merger of Credit Suisse and UBS found no misconduct by authorities but criticized Credit Suisse's management and regulatory weaknesses. Political reactions include calls for stricter banking regulations, with the Greens proposing a "Lex UBS" to enhance corporate governance and oversight. Former Finance Minister Ueli Maurer is blamed for inadequate crisis management, while the report emphasizes the need for improved coordination among authorities and better crisis detection mechanisms.
Jürg Grossen
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Swiss banking reforms strengthen oversight after Credit Suisse crisis and UBS takeover
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PostFinance Fonds 3
Credit Suisse Strategic Income I
Zürcher Kantonalbank
Raiffeisenfonds-Wachstum T
CHE
Alfred Heer
Gerhard Andrey
Daniela Schneeberger
Jürg Grossen
Leo Müller
Karin Keller-Sutter
Céline Widmer
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14:41 18.03.2025
Swiss National Council endorses PUK report on Credit Suisse crisis reforms
Swiss Franc
PostFinance Fonds 3
Credit Suisse Strategic Income I
Zürcher Kantonalbank
Raiffeisenfonds-Wachstum T
CHE
Daniela Schneeberger
Alfred Heer
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Karin Keller-Sutter
Jürg Grossen
Leo Müller
Franziska Ryser
Gerhard Andrey
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13:37 18.03.2025
Swiss Parliament Endorses PUK Report on Credit Suisse Crisis and Banking Reforms
PostFinance Fonds 3
Credit Suisse Strategic Income I
Zürcher Kantonalbank
Raiffeisenfonds-Wachstum T
CHE
Alfred Heer
Gerhard Andrey
Daniela Schneeberger
Jürg Grossen
Leo Müller
Karin Keller-Sutter
Céline Widmer
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11:55 18.03.2025
ubs faces backlash over ceo salary amid ongoing public scrutiny
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Roman Studer
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16:55 17.03.2025
investigation into UBS market power and competition in swiss banking sector
05:00 08.03.2025
ubs intensifies lobbying to avoid stricter regulations after credit suisse crisis
Swiss Franc
Credit Suisse Real Estate Fund Siat
CHE
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Gerhard Pfister
Anny Klawa-Morf
Jürg Grossen
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political parties call for reforms after credit suisse collapse and UBS concerns
Credit Suisse Real Estate Fund Siat
CHE
Cédric Wermuth
Karin Keller-Sutter
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Jürg Grossen
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reactions to parliamentary inquiry report on credit suisse collapse and regulation reforms
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Credit Suisse Real Estate Fund Siat
economiesuisse
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parties react to credit suisse debacle with calls for accountability and reform
Swiss Franc
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Credit Suisse Real Estate Fund Siat
CHE
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Cédric Wermuth
Isabelle Chassot
Thomas Aeschi
Marlene Amstad
Karin Keller-Sutter
Jürg Grossen
Ueli Maurer
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15:16 20.12.2024
parliamentary report on credit suisse merger highlights regulatory failures and calls for reform
Swiss Franc
Credit Suisse Real Estate Fund Siat
CHE
Cédric Wermuth
Karin Keller-Sutter
Jürg Grossen
Isabelle Chassot
Thomas Jordan
Ueli Maurer
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