- Credit Suisse inquiry will keep files secret for 50 years, paper reports

The files of the parliamentary investigation into the collapse of Credit Suisse will remain closed for 50 years, according to newspaper Aargauer Zeitung. This decision has raised concerns among Swiss historians, as the usual timeframe for closing files is 30 years. The investigating commission will eventually hand over its files, which include witness statements and documents, to the Swiss Federal Archives. The Swiss parliament did not provide any comment on the matter. The Swiss Society for History, represented by its president Sacha Zala, expressed concerns about the extended closure period. Zala wrote to the commission head, Isabelle Chassot, emphasizing the importance of access to the Credit Suisse files for researchers investigating the 2023 banking crisis. He suggested that the archive should be made accessible after an appropriate protection period, subject to historical research conditions. The investigation will primarily focus on the actions of the Swiss government, financial regulator, and central bank leading up to the emergency takeover of Credit Suisse by UBS in March. This investigation is only the fifth of its kind in Switzerland’s modern history, and the committee of lawmakers conducting it has extensive powers to call upon various state bodies for information. The committee recently held its first regular meeting in Bern, where it emphasized the confidentiality of its proceedings. While the committee may have the authority to question the Credit Suisse bankers involved, they will not be the main focus of the inquiry.