Finance
Switzerland had emotional reaction to 2023 crisis, UBS CEO says
Published by Global Banking & Finance Review®
Posted on February 9, 2026
1 min readLast updated: February 9, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 9, 2026
1 min readLast updated: February 9, 2026
UBS CEO Sergio Ermotti discusses Switzerland's emotional reaction to the 2023 Credit Suisse crisis and critiques current regulatory proposals.
ZURICH, Feb 9 (Reuters) - Switzerland had an emotional reaction to the 2023 Credit Suisse crisis, UBS CEO Sergio Ermotti said on Monday at a financial services conference in Florida, adding that current regulatory proposals to prevent a similar crash were not acceptable to the Swiss bank.
"In the last two, three years, of course, the emotions didn't really come down," Ermotti said. "It's good that the Parliament is now looking at this matter less emotionally."
(Reporting by Ariane Luthi, editing by John Revill)
A financial crisis is a situation where financial assets suddenly lose a large part of their nominal value, often leading to widespread economic instability.
A regulatory framework consists of rules and regulations that govern financial institutions and markets to ensure stability, transparency, and fairness.
The banking sector refers to the collection of institutions that provide financial services such as accepting deposits, providing loans, and facilitating transactions.
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