Swiss Bank Watchdog Blundered on Credit Suisse, Report Finds (3)

The Swiss parliament heavily criticized the previous leadership of Switzerland’s financial regulator Finma in a landmark inquiry into last year’s collapse of Credit Suisse.

Finma’s 2017 decision to grant Credit Suisse relief from capital requirements obscured the true state of the bank and prevented corrective measures from being taken on time, a specially-convened commission said in a report released Friday. Still, the commission, known as a PUK, handed primary blame for the crisis to the leadership of Credit Suisse over many years.

Read More: Swiss Lawmakers Make Over 30 Proposals for Bank Oversight Reform

The Finma move, known ...