Credit Suisse came near collapse months before its eventual bailout, the Swiss Financial Market Supervisory Authority said Tuesday, according to Reuters.
Finma, which has faced criticism for its oversight of the bank, called for expanded authority to regulate lenders to prevent future crises. In Credit Suisse’s case, the Swiss government intervened and hatched a $3.25 billion rescue deal with UBS in March. Finma, meanwhile, faced criticism for failing to step in early on.
Read More : Finma Advocates for Increased Powers Following Credit Suisse’s Collapse