Switzerland: Financial Sector Assessment Program-Technical Note on Systemic Risk Analysis and Stress Testing
IMF Staff Country Reports, November 24, 2025
Source details
- Canonical URL
- Switzerland: Financial Sector Assessment Program-Technical Note on Systemic Risk Analysis and Stress Testing
Other formats
Bibliographic details
- Published: November 24, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229032872.002
Overview and context
- Publication date: November 24, 2025
- Core observation: The Swiss financial system has navigated turbulent times since the 2019 FSAP.
- Key shocks highlighted:
- The COVID 19 pandemic
- Geopolitical conflicts
- The collapse of Credit Suisse (CS) in 2023—previously the second largest G-SIB relative to domestic GDP in the world
- Major outcome: Financial stability has been maintained despite significant events and interventions.
Major findings
- Government-assisted merger between UBS and CS:
- Entailed significant contingent fiscal liabilities.
- Undermined the credibility of the Too-Big-To-Fail (TBTF) regime.
- Revealed gaps in supervision, resolution, and crisis management in Switzerland.
- System resilience:
- Despite shocks listed above, the Swiss financial center and the economy remained stable through the period covered.
Thematic coverage (as indexed)
- Subjects covered in the technical note:
- Expenditure
- Financial institutions
- Financial sector policy and analysis
- Insurance
- Labor
- Mortgages
- Pension spending
- Pensions
- Solvency
- Stress testing
- Keywords (as provided):
- banking system profitability
- coverage ratio
- financial system structure
- Global
- Insurance
- Mortgages
- Pension spending
- Pensions
- Solvency
- solvency risk
- solvency stress test
- Stress testing
Content in this bundle
- 1cheea2025011-source-pdf