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Natalia Ferrara, Vice President of the Swiss Bank Employees Association, criticizes the PUK report regarding UBS's withdrawal, asserting that the collapse of Credit Suisse stemmed from inadequate enforcement of existing rules rather than a lack of regulations. She expresses dissatisfaction with the report, echoing sentiments from former Credit Suisse employees.
Negative interest rates in Switzerland are unlikely in 2025, with the Swiss National Bank expected to cut its key rate to 0.25% in March and possibly to 0% by June. Economic pressures from Germany and France could influence future rate decisions, but current forecasts suggest stability for the Swiss franc and low inflation. Historical context shows that while negative rates have occurred before, the current scenario does not favor their immediate return.
The Super League will have a new title sponsor starting from the 2025/26 season, as online retailer Brack replaces Credit Suisse, which has been acquired by UBS. The sponsorship agreement is set for a minimum of five years, while Credit Suisse will continue to support youth projects in club football for three years. Brack previously sponsored the Challenge League from 2013 to 2021.
The PUK report reveals new arguments for around 3,000 investors seeking to reclaim billions lost in the Credit Suisse bailout, potentially leading to significant costs for the federal government. PUK President Isabelle Chassot presented the extensive 560-page document, which could impact UBS.
The Parliamentary Commission of Inquiry (PUK) has concluded that the collapse of Credit Suisse was primarily due to the bank's leadership failures, while also highlighting mistakes made by authorities in crisis management. The report, presented by Council of States member Isabelle Chassot, indicates that UBS's takeover of CS was inevitable from the beginning.
Peter Klaunzer
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Bank staff association criticizes PUK report on UBS withdrawal and enforcement issues
08:13 19.03.2025
swiss national bank faces challenges as negative interest rates loom again
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