{
Ueli Maurer

People

}
credit suisse crisis ueli maurer's misleading statements and the downfall
In December 2022, Ueli Maurer misled the public about the stability of Credit Suisse, despite knowing the bank was in crisis. Following a significant liquidity outflow, he and CS Chairman Axel Lehmann falsely assured the public of a stabilized situation, while internal discussions revealed growing concerns about the bank's viability. By late December, CS's liquidity had drastically diminished, leading to its eventual downfall just months later.
Tages-Anzeiger
Swiss Franc Credit Suisse Real Estate Fund Siat CHE Marlene Amstad Karin Keller-Sutter Axel Lehmann Thomas Jordan Urban Angehrn Ulrich Körner Ueli Maurer Show more
Finance & Economy, News Article
23:27 21.12.2024
Karin Keller-Sutter addresses Credit Suisse crisis and handover issues with Maurer
Karin Keller-Sutter, the current Finance Minister, criticized her predecessor Ueli Maurer for a "less than optimal" handover amid the Credit Suisse crisis, which was deemed self-inflicted. She noted that there was no discussion about the handover and that she never met Maurer after taking office, despite his assurances of stability. Keller-Sutter defended her communication with the Federal Council, asserting she informed them adequately about the bank's issues shortly after her transition to the Finance Department.
Blick
Credit Suisse Real Estate Fund Siat CHE Karin Keller-Sutter Ueli Maurer
Finance & Economy, News Article
15:15 21.12.2024
Switzerland's new bilateral agreement with EU deemed significantly improved by officials
Federal Councillor Karin Keller-Sutter stated that the new understanding on bilaterals III is "significantly better" than the previously rejected Framework Agreement, aiming to stabilize relations with Brussels. She also addressed accusations regarding the Federal Council's knowledge of UBS's takeover of Credit Suisse, asserting that she informed the government adequately during her transition to the Finance Department. Additionally, she noted that Switzerland's annual cohesion contribution of 350 million francs is about 100 million francs less than Norway's.
rsi
Swiss Franc Norwegian Krone Credit Suisse Real Estate Fund Siat CHE Karin Keller-Sutter Ueli Maurer
Finance & Economy, News Article
14:54 21.12.2024
Keller-Sutter praises improved EU negotiations and addresses Credit Suisse report findings
Federal Councillor Karin Keller-Sutter stated that the outcome of negotiations between Switzerland and the EU is now "significantly better," emphasizing the importance of stabilizing the EU as a key trading partner. She also addressed the PUK report on Credit Suisse, asserting that her department effectively prevented a financial crisis, despite acknowledging that the transition from her predecessor was "not ideal."
watson.ch
Swiss Franc Credit Suisse Real Estate Fund Siat CHE Karin Keller-Sutter Ueli Maurer
Finance & Economy, News Article
13:31 21.12.2024
Swiss banking regulation faces scrutiny amid unresolved state guarantee concerns for UBS
The Federal Council has reaffirmed its rejection of a state guarantee for UBS, citing risks of competition distortion and the need for higher capital requirements. The PUK report highlights the unresolved issue of taxpayer protection and calls for stronger regulatory measures, including potential nationalization options for large banks. As Switzerland grapples with the implications of the Credit Suisse crisis, the future of banking regulation remains uncertain.
Neue Zürcher Zeitung
Credit Suisse Real Estate Fund Siat PostFinance Fonds 3 Zürcher Kantonalbank CHE Ueli Maurer Show more
Regulatory & Legal, News Article
06:30 21.12.2024
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
credit suisse collapse highlights failures in management and regulatory oversight
Credit Suisse's collapse in March 2023 was exacerbated by a lack of timely communication from top officials, including Federal Councillor Ueli Maurer, who withheld critical information. Despite incurring a cumulative loss of 33.7 billion francs from 2010 to 2022 while paying out nearly 40 billion francs in bonuses, the bank faced numerous scandals and regulatory scrutiny, raising questions about the effectiveness of the Financial Market Supervisory Authority. Calls for stricter regulations and enhanced oversight for systemic banks have intensified in light of the failures that led to the bank's downfall.
Corriere del Ticino
Mozambican Metical United States Dollar Swiss Franc Credit Suisse Real Estate Fund Siat CHE Ueli Maurer
Finance & Economy, News Article
06:00 21.12.2024
swiss party leaders debate eu treaty package and credit suisse report
The recent discussions in Bern have intensified around the conclusion of negotiations between Switzerland and the EU, alongside the Parliamentary Investigation Committee's report on the Credit Suisse emergency merger. Party leaders expressed contrasting views, with SVP's Martullo-Blocher criticizing the government's approach, while SP's Meyer and FDP's Burkart welcomed the negotiation outcomes, emphasizing the importance of wage protection and the continuation of bilateral agreements. The debate highlights ongoing concerns about sovereignty and immigration control amid evolving relations with the EU.
Schweizer Radio und Fernsehen (SRF)
Swiss Franc Credit Suisse Real Estate Fund Siat CHE Thierry Burkart Mattea Meyer Gerhard Pfister Magdalena Martullo-Blocher Lisa Mazzone Ignazio Cassis Tiana Moser Ueli Maurer Show more
Finance & Economy, Transcript
00:57 21.12.2024
investigation reveals shortcomings in credit suisse crisis management and oversight
Isabelle Chassot, President of the PUK, led an extensive investigation into the downfall of Credit Suisse, highlighting the bank's mismanagement and lack of transparency. The PUK's report calls for stronger supervisory measures and accountability for banks, emphasizing the need for effective regulation to prevent future crises. Chassot expressed concern over the Federal Council's decision-making process during the crisis, noting a lack of thorough documentation and trust among members.
Blick
Credit Suisse Real Estate Fund Siat CHE Isabelle Chassot Ueli Maurer
Finance & Economy, Transcript
00:21 21.12.2024
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
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