⏱ 1 min read
Background
In May 2023, the Federal Department of Finance (FDF) ordered the full or partial cancellation of variable pay for Credit Suisse's top three management levels. The bank had received public aid during its collapse.
The key points
The Federal Supreme Court has ruled that cancelling bonuses for former Credit Suisse senior executives was lawful, according to a judgment published on 15 October 2026. It upheld an appeal lodged by the Confederation and UBS.
The court considers that Article 10a of the Banking Act provides a sufficient legal basis for the measure.
Key figures
- Date of the FDF decision: May 2023.
- Management levels concerned: the top three.
What it means for businesses
For the court, the cancellation served an overriding public interest, given the aid granted to a systemically important bank. The later repayment of liquidity aid is not decisive.
Who says what
The Federal Supreme Court considers it unacceptable for bonuses linked to periods when the crisis emerged to be funded with public money.
Further reading
Sources
Let’s share Romandy’s news
We build the news together.
An idea, an opinion, a wish, a detail to add? Tell us!
