Credit Suisse Collapse Inquiry Blames Management, Calls for Reforms

Parliamentary investigation concludes years of mismanagement led to Credit Suisse's downfall, recommending twenty improvements to financial oversight.

Key Takeaways

Credit Suisse's collapse was primarily caused by years of mismanagement according to parliamentary investigation
The Board of Directors and management were reluctant to accept FINMA's interventions
Federal authorities made no direct wrongdoing but showed accumulated shortcomings
Twenty recommendations for improvement have been proposed

By The Numbers

Number of recommendations proposed by parliamentary commission

Number of globally systemically important banks remaining in Switzerland after CS collapse

They Said

"The difficulties encountered by Switzerland's second-largest bank can be attributed to the Board of Directors and management of Credit Suisse"
— Parliamentary Commission of Inquiry

Key Findings of the Investigation

Management Failures and Responsibility

Regulatory Shortcomings

Proposed Reforms and Recommendations

Impact on Swiss Banking Sector

Sources & References

Parliamentary inquiry on Credit Suisse collapse blames mismanagement

SWI swissinfo.ch

Key Takeaways

Credit Suisse's collapse was primarily caused by years of mismanagement according to parliamentary investigation
The Board of Directors and management were reluctant to accept FINMA's interventions
Federal authorities made no direct wrongdoing but showed accumulated shortcomings
Twenty recommendations for improvement have been proposed

By The Numbers

Number of recommendations proposed by parliamentary commission

Number of globally systemically important banks remaining in Switzerland after CS collapse

They Said

"The difficulties encountered by Switzerland's second-largest bank can be attributed to the Board of Directors and management of Credit Suisse"
— Parliamentary Commission of Inquiry

Key Takeaways

By The Numbers

They Said

Key Findings of the Investigation

Management Failures and Responsibility

Regulatory Shortcomings

Proposed Reforms and Recommendations

Impact on Swiss Banking Sector

Sources & References

Filed Under