The Swiss Federal Council has proposed making mandatory bonus deferrals for top banking executives law, as part of a sweeping overhaul of the Too Big To Fail regime. This measure follows the spectacular collapse of Credit Suisse in March 2023, which led to its acquisition by UBS in a government-backed deal. The reform package also includes clawback and malus mechanisms for bonuses, along with enhanced capital requirements for foreign subsidiaries of Swiss banks. Switzerland is moving in the opposite direction of other major financial centers, as the UK actually reduced bonus deferral periods for senior bankers in October 2025.
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