Swiss National Bank calls for new measures after Credit Suisse crash

The SNB said it was not yet able to judge how resilient the newly merged bank would be.

"The currently available data are not sufficient for a comprehensive assessment of the combined bank’s resilience in such a forward-looking analysis," the report said. Still, lessons needed to be learned "in view of the higher systemic importance of the combined bank and the associated risks for Switzerland," the SNB said.

The central bank said there were, however, three key observations to come from the crisis, including that compliance with capital requirements is necessary but not sufficient to ensure confidence in a bank."AT1 capital instruments absorbed losses only as the point of non-viability was imminent and state intervention became necessary," the report said.

The SNB also said that the scale and pace of deposit outflows at Credit Suisse that resulted from the loss of confidence were unprecedented and more severe than assumed under the liquidity regulations.officially closed, Swiss regulator, FINMA, said one of the most pressing goals for the new merged bank was to quickly reduce the risk of the former Credit Suisse investment bank, but was confident this could be achieved.

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