financetom
Business
financetom
/
Business
/
Swiss report on Credit Suisse collapse to be published Friday
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Swiss report on Credit Suisse collapse to be published Friday
Dec 18, 2024 5:09 AM

ZURICH (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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Stanley Black & Decker Swings to Adjusted Earnings in Q2, Revenue Declines; Adjusts Guidance
Stanley Black & Decker Swings to Adjusted Earnings in Q2, Revenue Declines; Adjusts Guidance
Jul 30, 2024
07:17 AM EDT, 07/30/2024 (MT Newswires) -- Stanley Black & Decker ( SWK ) reported Q2 adjusted earnings Tuesday of $1.09 per diluted share, swinging from a loss of $0.11 a year earlier. Analysts polled by Capital IQ expected $0.84 in adjusted EPS. Net sales for the quarter ended June 29 were $4.03 billion, down from $4.16 billion a year...
JetBlue posts surprise profit, delays buying $3 billion worth of Airbus planes
JetBlue posts surprise profit, delays buying $3 billion worth of Airbus planes
Jul 30, 2024
(Reuters) - JetBlue Airways ( JBLU ) posted a surprise second-quarter profit and delayed plans to buy Airbus planes worth about $3 billion, aiming for profitability through cost-cuts, sending its shares up 6% before the bell on Tuesday. The airline had earlier this year decided to cut some of its loss-making routes and markets, and moved resources to better-performing regions....
Zebra Technologies beats expectations, raises full-year forecast on demand recovery
Zebra Technologies beats expectations, raises full-year forecast on demand recovery
Jul 30, 2024
July 30 (Reuters) - Barcode scanner maker Zebra Technologies ( ZBRA ) beat second-quarter results estimates and raised full-year forecast on Tuesday, helped by a steady recovery in demand for its hardware and software services and products. The company is benefiting from a growth in ecommerce activity in the retail sector, its largest client, as inventory of its mobile computing...
American Electric Power's Q2 Non-GAAP Earnings, Revenue Increase
American Electric Power's Q2 Non-GAAP Earnings, Revenue Increase
Jul 30, 2024
07:24 AM EDT, 07/30/2024 (MT Newswires) -- American Electric Power ( AEP ) reported Q2 non-GAAP earnings Tuesday of $1.25 per share, up from $1.13 a year earlier. Analysts polled by Capital IQ expected $1.23. Revenue for the quarter ended June 30 was $4.60 billion compared with $4.40 billion a year earlier. Analysts polled by Capital IQ expected $4.71 billion....
Copyright 2023-2026 - www.financetom.com All Rights Reserved