Swiss banks faced risk of ‘full-scale’ deposit run

Allowing Credit Suisse to go bankrupt would have had serious repercussions for the country’s financial system, a national regulator has claimed The takeover of the troubled Credit Suisse by rival banking giant UBS has allowed Switzerland’s economy to avoid major problems, including deposit runs at other banks, national regulator FINMA claimed on Wednesday. FINMA and the Swiss central bank brokered the historic takeover for 3 billion Swiss francs ($3.3 billion) in a deal announced last month. As part of the transaction, the regulator ordered Credit Suisse to write down to zero some 16 billion Swiss francs ($17.6 b

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