IMF urges tighter Swiss regulation after UBS takeover of Credit Suisse
World BusinessMar 28, 2024
The IMF urged Switzerland on Thursday to strengthen its financial sector regulation as supervising UBS has become "more challenging" since it grew into a global banking behemoth after its takeover of Credit Suisse. Switzerland's biggest bank was strongarmed by the government into buying Credit Suisse last year over fears that the second largest lender in the country might go under and spark a global financial crisis. "Lessons from the CS (Credit Suisse) case should inform fur