IMF Staff Country Reports

The Swiss financial system is large, sophisticated, and of global importance, especially through its asset and wealth management services. It has faced significant challenges since the last FSAP, most notably during the collapse of Credit Suisse (CS), its second largest Global Systemically Important Bank (G-SIB). Financial stability was preserved through exceptional government measures, which attracted intense public scrutiny and highlighted salient gaps in supervision and crisis management frameworks. The authorities are rightly seizing the momentum to push for bold reforms, most of which will require parliamentary approval.