2023-09-01 17:13:18
Published on September 01, 2023 at 7:13 p.m. Modified on September 01, 2023 at 7:43 p.m.
The report published Friday by the group of experts on “banking stability” is not intended to be an investigation into the collapse of Credit Suisse. To understand what is wrong with the regulations developed to oversee systemically important banks, the economists commissioned by the Confederation still had to look into the conditions of the debacle. A first, moreover, since the financial markets have taken measures to prevent a bank deemed too big to fail (TBTF) from having to file for bankruptcy. This was in the wake of the 2008 banking crisis.
Verdict: “The authorities chose the merger because it was the simplest solution”, judge the mandated experts. This does not mean that the planned net would not have worked, as Professor Yvan Lengwiler, chairman of this working group, reminds us.
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