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The Latest Breaking News from Finma

Credit Suisse Collapse Probe Slams Banking Regulator

Switzerland's financial regulator was ineffective in tackling the scandals at Credit Suisse, where executive mismanagement scuppered the bank and nearly triggered a global financial crisis, a Swiss inquiry concluded Friday.

International Business Times

HSBC’s Swiss private banking arm breached money-laundering rules, regulator finds

Finma watchdog says bank failed to carry out adequate checks of two high-risk business relationships

The Guardian - UK

Former Swiss Finance Minister Defends Role in Credit Suisse Collapse

Former Swiss finance minister defends his actions in the collapse of Credit Suisse, stating that he acted in line with regulations and did not contribute t...

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Lawsuits pile up over Credit Suisse bonds write-down

Zurich (AFP) - Switzerland's justice authorities said Tuesday that 230 complaints had been filed over a decision by financial regulators to cut the value of high-risk Credit Suisse bonds to zero, to facilitate the stricken bank's takeover by UBS.

AFP

Credit Suisse investors suing Swiss regulator after £4bn bond wipeout

Finma accused of acting unlawfully and undermining confidence in Switzerland as a financial centre

The Guardian - UK

Credit Suisse investors sue after facing billions in losses

A group of Credit Suisse investors have sued Swiss financial regulators after a government-engineered takeover of the struggling bank by rival UBS left them with billions in losses

The Independent UK

Switzerland scraps Credit Suisse execs' bonuses

Geneva (AFP) - The Swiss government said Wednesday it would scrap the outstanding bonuses of Credit Suisse's executive board following the bank's implosion and emergency takeover by rival UBS.

AFP

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Ermotti back as UBS CEO to handle Credit Suisse takeover risks

Zurich (AFP) - UBS announced Wednesday it will bring back former chief executive Sergio Ermotti to handle the huge risks involved in the Swiss banking giant's controversial absorption of troubled rival Credit Suisse.

AFP

UBS, Credit Suisse tie-up may not lead to Swiss bliss

Geneva (AFP) - The marriage of UBS and Credit Suisse was hastily arranged to prevent a global financial meltdown -- but the size of the resulting megabank could cause domestic problems in Switzerland, the central bank admitted Thursday.

AFP

European bank shares fall as crisis leaves mark

Banking shares have slipped in Europe as investors adjust to more challenging economic and lending conditions ahead.

The New Daily

The Last Hours of Credit Suisse (as They Might Have Gone)

Here's an imaginary depiction of the talks that sealed the fate of Credit Suisse, a 167-year-old European bank.

The Street

Credit Suisse collapsed weeks after receiving a clean bill of health from regulators

The Swiss lender with nearly $575 billion in total assets collapsed at first slowly, then all at once.

Fortune

UBS to buy crisis-hit bank Credit Suisse in bid to avoid financial chaos

Central banks around the world hail £2.7bn merger which saw Swiss government bend the rules for swift action

The Independent UK

World's central banks rally to prevent banking crisis spreading after UBS takes over embattled Credit Suisse

Beleaguered bank Credit Suisse is bought out by Swiss rival UBS, with the nation's president saying an uncontrolled collapse would have had "incalculable consequences" for the international finance system.

ABC News

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AFP

UBS agrees to buy Credit Suisse for $2 bn: report

Bern (Switzerland) (AFP) - UBS has agreed to take over its troubled Swiss rival Credit Suisse after doubling its offer to $2 billion, the Financial Times reported amid urgent talks Sunday aimed at sparing the embattled bank from a bloodbath when the markets reopen.

AFP

UBS, Credit Suisse lock horns in takeover talks

Bern (Switzerland) (AFP) - UBS is prepared to take over its troubled Swiss rival Credit Suisse but only for a knockdown price, reports said Sunday amid urgent talks aimed at saving the embattled bank from a bloodbath when the markets reopen.

AFP

UBS against the clock in Credit Suisse takeover talks

Zurich (AFP) - UBS was up against the clock Sunday in talks to finalise a mammoth takeover of its troubled rival Swiss bank Credit Suisse and reassure investors before the markets reopen.

AFP

UBS in talks to save Credit Suisse

Zurich (AFP) - Credit Suisse is in advanced talks with its larger Swiss rival UBS about a deal to salvage Switzerland's second-biggest bank, in a bid to reassure investors before the markets open next week, several media reported Saturday.

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AFP

Crunch weekend for crisis-hit Credit Suisse

Zurich (AFP) - Troubled Credit Suisse has two days to reassure before the markets open Monday with the spectre of a new turbulent week in global finance looming.

AFP

Credit Suisse bounces back but caution lingers

Zurich (AFP) - Credit Suisse rallied on the stock market Thursday after grabbing a $54 billion central bank lifeline in a bid to restore investor confidence but analysts remain wary about the major lender's future.

The Street

Credit Suisse Catches Its Breath. But for How Long?

The bank will borrow nearly $54 billion from the Swiss central bank (SNB) to bolster its liquidity. Credit Suisse shares rebounded nearly 23%.

Bangkok Post

Credit Suisse bounces back but investors cautious

ZURICH: Credit Suisse rallied on the stock market Thursday after grabbing a $54 billion central bank lifeline in a bid to restore investor confidence but analysts remain wary about the major lender's future.

The Street

Credit Suisse Finds a Lifeline at Home

The bank will borrow nearly $54 billion from the Swiss central bank (SNB) to bolster its liquidity. Credit Suisse shares rebounded nearly 23%.

The Guardian - UK

ECB’s Lagarde insists banks much stronger than in 2008 after raising interest rates despite Credit Suisse turmoil – as it happened

ECB presses on with 0.5 point increase in eurozone interest rates, and says it stands ready to respond to market turmoil

The Street

Swiss Government Ready to Rescue Credit Suisse

The Swiss authorities sent a reassuring message to the markets which are questioning the financial solidity of Credit Suisse.

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