Federal Council discusses outcome of extraordinary session
Bern, 19.4.2023 - At its meeting of 19 April 2023, the Federal Council acknowledged that the National Council had twice rejected the emergency guarantee credits for the Swiss National Bank (SNB) and UBS during the extraordinary session of 11/12 April 2023. Parliament debated these credits on the premise that a rejection would have no legal effect on the Confederation's emergency commitments made to the SNB and UBS. The Federal Council shares this legal opinion. Without these commitments, the takeover of Credit Suisse by UBS, and thus the stabilisation of the financial system, would not have been possible. However, the Federal Council will give the fullest consideration to Parliament's position in its future work and decisions.