Swiss Regulator: Switzerland Faced a Bank Run if Credit Suisse Was Allowed to Go Bankrupt

Join #Consensus2023, the most important conversation in crypto and Web3, happening April 26-28 in Austin, Texas. Tickets on sale now: https://bit.ly/3XXIq17 Swiss regulator FINMA said Wednesday that allowing embattled lender Credit Suisse to file for bankruptcy could have resulted in…

Swiss Regulator: Switzerland Faced a Bank Run if Credit Suisse Was Allowed to Go Bankrupt

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Join #Consensus2023, the most important conversation in crypto and Web3, happening April 26-28 in Austin, Texas. Tickets on sale now: https://bit.ly/3XXIq17

Swiss regulator FINMA said Wednesday that allowing embattled lender Credit Suisse to file for bankruptcy could have resulted in deposit runs at other banks in Switzerland. FINMA and the Swiss National Bank brokered UBS’ takeover of Credit Suisse for 3 billion Swiss francs ($3.3 billion) in a deal announced on March 19. “The Hash” panel discusses the larger implications for the Swiss banking system.