Forced CS merger casts doubt on use of resolution regimes

Risk Live: Spreads on European AT1 bonds still wider than before March bail-in


The decision by the Swiss financial regulator, Finma, to force a merger of ailing Credit Suisse with its largest competitor, UBS, has cast doubt on the use of resolution regimes – a carefully crafted element of post-crisis architecture intended to ensure orderly wind-down of failing institutions.

“The whole resolution regime, the post-financial crisis ‘too-big-to-fail’ – I think there’s less confidence in that than there was before Credit Suisse,” said Gavan Nolan, executive director for

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