Credit Suisse scandals prompt Switzerland to punish bankers Published: 8:02 PM, May 28, 2021
Switzerland s national flag flies above the logo of Swiss bank Credit Suisse at its headquarters in Zurich. - Reuters File Photo SHARE
FRANKFURT: Exasperation with Credit Suisse following a string of scandals is prompting Switzerland to rethink a system in which top bankers have been largely untouchable.
Credit Suisse s heavy losses from the collapse of family office Archegos and the decimation of billions of client investments backed by insolvent British financier Greensill have angered regulators and triggered a rare discussion among lawmakers about fining bankers.
The debate, the biggest public discussion about banking reform since the financial crash, centres on ending the current laissez-faire regime, where fines on bankers are not possible, to copy Britain s stricter rule book.
The government appears to be helpless in controlling the circular debt that has now swelled by Rs260 billion in the first ten months of the current fiscal. Though the government is claiming that it.
LAHORE: PML-N Secretary Information Marriyum Aurangzeb said Pakistan’s debt can be paid off if trillions of rupees stolen by the PTI government through corruption facilitated by Imran Khan.
Photo Credit: IANS
IANSLive
Singapore, May 27 May 27 (IANS) Climate change and related government policies expose Asia-Pacific banks to physical climate risks, as well as risks that stem from sudden changes in asset values as economic priorities shift, according to Moody s Investors Service in a new report.
For susbcription contact
May 27, 2021 Yield-starved investors have fuelled the private debt market to a market cap of more than $1tn in recent years according to data from EY, amid traditional banks stepping away from the sector in the wake of the global financial crash. The junior debt subsegment remains a highly risky proposition, however, despite wider acceptance among investors. Penfund senior partner Richard Bradlow explained to AltAssets reporter Emily Lai how the firm is succeeding in the sector while avoiding its many pitfalls.