Credit Suisse Rescue Package Rejected by Swiss Parliament

Credit Suisse Rescue Package Rejected by Swiss Parliament
The logo of Swiss bank Credit Suisse in front of a branch office in Bern, Switzerland, on Nov. 29, 2022. Arnd Wiegmann/Reuters
|Updated:

BERN—Switzerland’s parliament rejected on Wednesday the government’s 109 billion Swiss francs ($120.82 billion) aid for Credit Suisse’s merger with UBS, leaving the fallen bank’s hastily arranged rescue without a largely symbolic parliamentary blessing.

While the upper house had approved the government’s contribution to the rescue package, parliament’s lower, and larger chamber, pushed back again on Wednesday.