Banks Finma appeals decision on AT1 bonds to the Federal Supreme Court
The Swiss Financial Market Supervisory Authority FINMA does not want to accept the decision of the Federal Administrative Court to write off Credit Suisse's AT1 bonds. It is now appealing the decision to the Federal Supreme Court, as the authority announced on Wednesday.
15.10.2025, 10:37
SDA
In a partial ruling on Tuesday, the Federal Administrative Court (FAC) overturned the Finma ruling from March 2023, according to which the so-called Additional Tier 1 bonds of the ailing CS worth a good CHF 16 billion had to be written down to zero.
With this ruling, however, the court has not yet commented on the consequences of this annulment, Finma emphasized in its press release.
Finma based its ruling on the Federal Council's emergency ordinance, among other things. The write-off was part of an overall package to stabilize Credit Suisse through a merger with UBS, Finma stated in the press release.
Around 3,000 complainants had filed complaints against the Finma ruling in around 360 proceedings.
