Swiss Parliamentary Report on Credit Suisse Collapse

ZURICH (Reuters) – A Swiss parliamentary report examining the authorities' management of the 2023 collapse of Credit Suisse will be released on Friday, according to the Swiss parliament's announcement on Wednesday.

This eagerly anticipated report, produced by the parliamentary committee investigating the Credit Suisse meltdown, is expected to influence new regulations governing UBS, which acquired Credit Suisse.

Parliament stated that the report would be published on December 20 and will be accompanied by a news conference.

Credit Suisse, a 167-year-old pillar of the Swiss financial establishment and the country's second-largest bank, collapsed amid a series of scandals, leading to its takeover by UBS in March 2023 at a significantly reduced value.

In June, parliament took the unusual step of forming a committee to examine the official response to Credit Suisse's downfall, and the government indicated it would not propose draft legislation until reviewing the committee's findings.

Earlier this year, the government outlined its vision in a "too-big-to-fail" report, proposing various measures aimed at reducing risks in the banking sector.