Bank staff association demands resignation of Finma President
Published: Thursday, Dec 19th 2024, 10:30
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In view of the PUK report on the downfall of Credit Suisse, the Swiss Bank Employees Association is calling for personnel consequences. The resignation of the President of the Swiss Financial Market Supervisory Authority, Marlene Amstad, is overdue.
The association also wants to know why "the naively acting Federal Council" stood by and watched as the big bank was driven to the wall. The association expects explanations as to why the "tame supervisory authorities allowed Credit Suisse to operate for years with lower equity than required by regulations", as it announced on Thursday. A collapse was already foreseeable before spring 2023.
The Swiss Financial Market Supervisory Authority (FINMA) and the Federal Council had allowed Credit Suisse's top bankers to "jeopardize thousands of jobs" at the major bank. The Parliamentary Commission of Inquiry (PCI) will publish its report on the downfall of Credit Suisse on Friday.
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