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The runs on Silicon Valley Bank and Credit Suisse in March 2023 revived attention on banking regulation, resolution, and government intervention. This column analyses the details of the run on Credit Suisse and its eventual takeover by UBS. It highlights multiple discrepancies between official statements and implemented measures, both by Credit Suisse and Swiss authorities. Furthermore, it argues that the reforms adopted after the 2007-2009 crisis are still insufficient for resolving systemic institutions. Going forward, authorities must be able to act promptly and implement correction actions before risks of failure become too severe.
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