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How Swiss authorities bungled Credit Suisse oversight

About six months before Credit Suisse was sold to rival UBS in a weekend rescue, the head of the Swiss central bank wanted to inject 50 billion Swiss francs ($57.6 billion) into the lender and nationalise it, according to three sources with direct knowledge of the matter. Hobbled by a series of scandals and failed restructuring plans under successive management teams, Credit Suisse had experienced massive deposit outflows in October 2022. Swiss National Bank Chairman Thomas Jordan and other of...
City Of United Kingdom United States Ueli Maurer Stefan Gerlach Thomas Jordan
Source: yahoo.com

credit suise: How Swiss authorities bungled Credit Suisse oversight

Hobbled by a series of scandals and failed restructuring plans under successive management teams, Credit Suisse had experienced massive deposit outflows in October 2022. Swiss National Bank Chairman Thomas Jordan and other officials believed the lender faced an existential crisis that could not be solved by just injecting cash, two of the sources said.
United States Tidjane Thiam Ursula Schneider Schuttel Karin Keller Sutter Schneider Schuttel Thomas Jordan

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