Swiss regulator aims to draw lessons from Credit Suisse debacle

Switzerland’s banking regulator, FINMA, said it would learn from the Credit Suisse crisis as it released its annual assessment of emergency contingencies. Credit Suisse’s collapse amid market panic led to Swiss authorities orchestrating an emergency rescue that involved pressuring UBS into a US$3.25bn takeover of its closest domestic rival. Head of FINMA, Urban Angehrn, said that “important lessons” can be learned from the Credit Suisse crisis for future crisis preparations.