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Swiss financial watchdog calls for more powers after Credit Suisse crash
![IndiaTimes]()
Tuesday, 19 December 2023
The Swiss financial regulator, Finma, provided a detailed account of the Credit Suisse crisis, revealing that the bank came close to collapsing before its eventual rescue. Finma defended its role in the meltdown and stated that it took significant measures to address deficiencies in Credit Suisse. However, these actions were unable to overcome the causes of the loss of confidence in the bank. Finma now advocates for stronger powers to oversee lenders, including the ability to impose fines and publish enforcement details.
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Tuesday, 19 December 2023
