Welches «Too-big-to-fail»-Regime braucht die Schweiz?

On March 19, 2023, the Swiss Finance Minister together with the Swiss National Bank and the Swiss Financial Market Supervisory Authority FINMA announced the rescue operation for Credit Suisse, the second largest Swiss banking group. After having lost the confidence of its customers, creditors and investors and unprecedented deposit outflows a rescue operation by involving the state of Switzerland was inevitable. The backbone of the solution was the takeover of Credit Suisse by its Swiss competitor and largest Swiss banking group UBS. The starting point of this article are a number of fundamental principles, like the constitutional protected freedom of freely choosing the organization of an economic activity or the warranty of the market exit by way of bankruptcy in case of a failure. Furthermore, it is important that the Swiss «Too-big-to-fail»-regime ensures a credible and feasible solution for any banking crisis, whatever it may be. Given that the merger between UBS and Credit Swiss…