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Switzerland’s central bank said the government and regulators should carry out an in-depth review of rules aimed at preventing disastrous bank collapses, saying key guardrails failed to prevent Credit Suisse from needing to be rescued by Swiss competitor UBS.
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“Looking forward, the experience with Credit Suisse shows the need for a review of the 'too big to fail' framework in order to facilitate early intervention,” the central bank said.
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