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Compliance Corner: Switzerland To Revamp Rules A Year After Credit Suisse Saga – Report

Editorial Staff

5 April 2024

Switzerland is speeding up steps to overhaul banking regulations a year after . 

FINMA’s new chief executive, Stefan Walter, has arrived in the job this week. His predecessor had left the job, citing the effect that the Credit Suisse saga had on his health.

A challenge for Switzerland is that UBS, the country’s sole remaining universal bank, has a balance sheet that is larger than the country’s economy. Such a position creates the problem of “too big to fail,” and the risks of what would happen to Switzerland if UBS were to be hit by a major financial problem.