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Credit Suisse: Too big to manage, too big to resolve, or simply too big?

Journal

Vox EU

Subject

Economics

Publishing details

Vox EU 2023 8 May 2023

Authors / Editors

Admati A;Hellwig M;Portes R

Biographies

Richard Portes

Publication Year

2023

Abstract

The runs on Silicon Valley Bank and Credit Suisse in March 2023 revived attention on banking regulation, resolution, and government intervention. This column analyses the details of the run on Credit Suisse and its eventual takeover by UBS. It highlights multiple discrepancies between official statements and implemented measures, both by Credit Suisse and Swiss authorities. Furthermore, it argues that the reforms adopted after the 2007-2009 crisis are still insufficient for resolving systemic institutions. Going forward, authorities must be able to act promptly and implement correction actions before risks of failure become too severe.

Available on ECCH

No


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