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Swiss report on Credit Suisse collapse to be published Friday
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Swiss report on Credit Suisse collapse to be published Friday
Dec 18, 2024 5:08 AM

ZURICH, Dec 18 (Reuters) - A Swiss parliamentary report

into how authorities managed the 2023 collapse of Credit Suisse

will be published on Friday, the Swiss parliament said on

Wednesday.

The report by the parliamentary committee looking into the

Credit Suisse meltdown has been eagerly awaited for months and

the government says its findings will feed into new rules due to

be drawn up to govern UBS, which acquired Credit

Suisse.

In a statement, parliament said the report from the

parliamentary committee would be published on Dec. 20 and that

an accompanying news conference would also be held.

A pillar of the Swiss financial establishment and the

country's second-biggest bank, 167-year-old Credit Suisse fell

apart in a series of scandals that culminated in its March 2023

takeover by UBS for a fraction of its former value.

That June, parliament took the rare step of forming a

committee to probe the official response to the demise of Credit

Suisse, and the government said it would wait on proposing draft

legislation until it had taken stock of the lawmakers' findings.

The government sketched out its vision earlier this year in

a too-big-to-fail report that set out a raft of proposals

designed to make the banking sector less risky.

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