In wake of Credit Suisse, Switzerland told to better prepare

In wake of Credit Suisse, Switzerland told to better prepare for bank failure

BERN (Reuters) -Switzerland was urged to prepare properly for the failure of a big bank on Friday by a group of experts in the wake of the collapse of Credit Suisse, but their report to government skirted radical reform some say is needed. UBS Group emerged as Switzerland’s single largest bank earlier this year after the government hastily arranged and partly bankrolled its takeover of stricken Credit Suisse to prevent that bank's collapse. The failure of one of the world's biggest banks and a one-time symbol of Swiss financial strength blindsided the country's officials and regulators, who had long grappled with the lender as it lurched from one scandal to the next.

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