Swiss financial market supervisory authority FINMA is calling for tougher instruments as a consequence of the downfall of Credit Suisse. This includes, for example, the option for it to impose fines.
FINMA would also like to see improvements in capital regulation as part of the “too-big-to-fail” requirements. Stricter standards are needed at the level of the individual institution, writes the supervisory authority in a report on lessons learnedExternal link from the Credit Suisse crisis published on Tuesday.
Due to the accumulation of problems and deficiencies at Credit Suisse, which was taken over by UBS in March 2023, FINMA intensified its supervisory activities in recent years and imposed ever more drastic measures, according to the report. In doing so, it went to the limits of its legal possibilities. ...