December 20, 2024|
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|12 months agoCredit 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.
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Generated IllustrationKey Takeaways
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- 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
20
Number of recommendations proposed by parliamentary commission
1
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"