Reuters
"The state-facilitated acquisition of Credit Suisse by UBS has stabilised the financial markets, but the experience and prospects also call for strong financial sector reforms," the IMF said after concluding its review of the Swiss economy. The Financial Stability Board, a grouping of central bankers, treasury officials and regulators from the group of 20 top global economies, has also highlighted the risk a failure of UBS would pose to Switzerland and urged Bern to strengthen its controls on banks. Pelin Berkmen, head of the IMF delegation, said the lender's 2019 recommendations remained relevant.