{
Karin Keller-Sutter

People

}
disagreement within snb over credit suisse nationalization versus sale
The Parliamentary Commission of Inquiry revealed a split within the Swiss National Bank (SNB) regarding the Credit Suisse (CS) crisis. While then-Chairman Thomas Jordan and Finance Minister Karin Keller-Sutter favored a UBS takeover, SNB Vice President Martin Schlegel advocated for nationalization, believing it would better ensure financial stability. Additionally, FINMA President Marlene Amstad preferred a restructuring of CS that would keep it under private ownership, but the UBS acquisition ultimately proceeded at a bargain price.
watson.ch
Euro United States Dollar Swiss Franc Credit Suisse Real Estate Fund Siat CHE Martin Schlegel Sergio Ermotti Marlene Amstad Karin Keller-Sutter Colm Kelleher Michael Schöll Thomas Jordan Ueli Maurer Show more
Finance & Economy, News Article
06:00 21.12.2024
parliamentary inquiry finds credit suisse crisis was self inflicted and preventable
The Parliamentary Commission of Inquiry into the Credit Suisse crisis concluded that the situation was self-inflicted, while acknowledging that a global financial crisis was averted in 2023. Finance Minister Karin Keller-Sutter supports the PUK's recommendations for improved banking regulation but rejects calls to restrict capital and liquidity requirements. Political parties are divided on how to address the supervisory authority Finma, with some advocating for its strengthening and others calling for accountability for its past actions.
Schweizer Radio und Fernsehen (SRF)
Credit Suisse Real Estate Fund Siat CHE Thomas Aeschi Isabelle Chassot Karin Keller-Sutter Cédric Wermuth Show more
Finance & Economy, News Article
21:40 20.12.2024
swiss authorities call for smarter regulation after credit suisse collapse
Finma has welcomed the ICC's recommendation for enhanced regulatory responsibilities, acknowledging past criticisms and emphasizing the need for "smart" regulation following the Credit Suisse crisis. The Swiss National Bank and the Swiss Bankers Association also stress the importance of targeted regulatory adjustments to maintain competitiveness. Meanwhile, political parties call for stronger oversight and effective implementation of the ICC's recommendations to prevent future financial instability.
Corriere del Ticino
United States Dollar Swiss Franc Credit Suisse Real Estate Fund Siat CHE Karin Keller-Sutter Ueli Maurer
Finance & Economy, Market Report
19:35 20.12.2024
Federal Council disagrees with key recommendations from Parliamentary Investigation Commission
The Federal Council has expressed disagreement with several recommendations from the Parliamentary Investigation Commission (PUK) regarding the Credit Suisse crisis, asserting that existing too-big-to-fail rules have sufficiently strengthened systemic banks. While it supports adapting these rules to UBS's size, it rejects calls to restrict capital and liquidity easing for systemically important banks. The Council also criticized the PUK's report for containing controversial descriptions and not adequately incorporating feedback from the Federal Council.
watson.ch
Swiss Franc Credit Suisse Real Estate Fund Siat CHE Isabelle Chassot Karin Keller-Sutter Ueli Maurer Show more
Finance & Economy, Press Release
18:49 20.12.2024
swiss banking regulations face criticism amid credit suisse crisis and takeover
The Parliamentary Commission of Inquiry (CEP) concluded that the collapse of Credit Suisse was primarily due to the bank's management failures, including a lack of cooperation with regulatory authorities and poor risk management. Despite significant profits, the board's reluctance to heed warnings from the Swiss Financial Market Supervisory Authority (Finma) contributed to the erosion of investor confidence. The CEP also criticized Finma for granting regulatory relief that masked the bank's true capital situation, suggesting that systemic banks should no longer receive such leniency.
Blick
Swiss Franc Credit Suisse Real Estate Fund Siat CHE Urs Rohner Marlene Amstad Karin Keller-Sutter Isabelle Chassot Ueli Maurer Show more
Finance & Economy, News Article
18:15 20.12.2024
Swiss authorities criticized for failures leading to Credit Suisse collapse
A parliamentary commission of inquiry has found that Swiss authorities made significant errors leading to the collapse of Credit Suisse, attributing the loss of trust primarily to the bank's Board of Directors and Executive Board. The investigation revealed that the Financial Market Supervisory Authority (Finma) granted excessive capital relief and failed to act decisively, while the government was criticized for its lack of transparency. In response, the Swiss government plans to reform banking regulations, including stricter capital requirements, and has proposed 30 recommendations to prevent future crises.
FAZ.NET
Swiss Franc Credit Suisse Real Estate Fund Siat CHE Karin Keller-Sutter Ueli Maurer Isabelle Chassot Thomas Jordan Roger Nordmann Show more
Finance & Economy, News Article
17:19 20.12.2024
investors express disappointment over at1 bond write-off and slow legal responses
The ICC's report on the March 19, 2023, write-off of AT1 bonds, totaling 16 billion francs, has drawn criticism for its lack of accountability and failure to address misleading statements from Credit Suisse's management. Over 3,000 investors are still awaiting responses from the Federal Administrative Court regarding their appeals against Finma's decision, with many now looking to the U.S. justice system for recourse. Dario Item, a financial law expert, expressed disappointment in the ICC's superficial conclusions and the prolonged delays faced by investors.
Corriere del Ticino
Swiss Franc Credit Suisse Real Estate Fund Siat CHE Karin Keller-Sutter Dario Item
Regulatory & Legal, News Article
17:00 20.12.2024
political parties call for reforms after credit suisse collapse and UBS concerns
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.
watson.ch/fr
Credit Suisse Real Estate Fund Siat CHE Cédric Wermuth Karin Keller-Sutter Paulo Henrique Schneider Jürg Grossen Philipp Matthias Bregy Ueli Maurer Show more
Finance & Economy, News Article
16:36 20.12.2024
law professor criticizes parliamentary report on credit suisse crisis response
Law professor Peter V. Kunz criticizes the Parliamentary Investigation Commission's (PUK) report on the Credit Suisse crisis, stating it failed to provide meaningful insights or solutions after 1.5 years of investigation. He argues that the report's 20 recommendations are superficial and that political reluctance to hold authorities accountable has delayed necessary reforms, leaving the banking system vulnerable to future crises.
Blick
Credit Suisse Real Estate Fund Siat CHE Dirk Schütze Peter V. Kunz Karin Keller-Sutter Ueli Maurer Show more
Finance & Economy, Transcript
16:33 20.12.2024
swiss democracy under scrutiny as big banks influence government actions
The PUK report reveals a troubling relationship between Swiss democracy and major banks, highlighting Ueli Maurer's misleading statements about Credit Suisse's stability before its collapse. The report criticizes the lack of accountability for bank executives and calls for reforms to curb political lobbying and enhance regulatory oversight to prevent future crises.
@Wochenzeitung
Swiss Franc Credit Suisse Real Estate Fund Siat USA CHE Cédric Wermuth Isabelle Chassot Ruedi Noser Franziska Ryser Karin Keller-Sutter Thomas Jordan Ueli Maurer Show more
Regulatory & Legal, News Article
16:14 20.12.2024
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