Swiss National Bank says new measures needed after Credit Suisse crash

The Swiss National Bank (SNB) on Thursday said it was crucial to draw lessons and take measures from the Credit Suisse crisis that led to the bank's downfall and forced rescue by rival UBS.

"These measures need to strengthen banks' resilience in order to prevent a loss of confidence wherever possible, and ensure a broad range of effective options to stabilise, recover or wind down a systemically important bank in the event of a crisis," the central bank said in its 2023 financial stability report. The SNB said it was not yet able to judge how resilient the newly merged bank would be.

"The currently available data are not sufficient for a comprehensive assessment of the combined bank's resilience in such a forward-looking analysis," the report said.