Credit Suisse investigation will keep files secret for 50 years

ZURICH (Reuters) – A parliamentary inquiry into the collapse of Credit Suisse will keep its files closed for 50 years, the Aargauer Zeitung newspaper reported, raising concerns among Swiss historians.

The investigative committee will hand over its files, which include witness statements and documents, to the Swiss Federal Archives after a much longer interval than the usual 30 years, the newspaper said.

The Swiss parliament did not respond to a request for comment on Saturday.

The Swiss Historical Society raised concerns about the length, with its president Sacha Zala writing to the head of the commission, Isabelle Chassot, a lawmaker in the upper house of the Swiss parliament.

“If researchers wanted to scientifically investigate the 2023 banking crisis, access to CS files would be invaluable,” Zala wrote, according to the newspaper.

“Ideally, it should be possible to secure and make accessible the archive after the expiration of an appropriate period of protection and, where appropriate, subject to historical research conditions,” he said. added.

The investigation will focus on the activities of the Swiss government, financial regulator and central bank in the run-up to the emergency takeover of Credit Suisse by UBS in March.

The inquiry is only the fifth of its kind in the country’s modern history and the committee of lawmakers conducting it has sweeping powers to appeal to the Swiss cabinet, finance ministry and other government bodies. State.

The commission held its first regular meeting in Bern on Thursday, where it stressed the confidentiality of its work.

He may have the power to question the Credit Suisse bankers involved, but they will not be the focus of the investigation.

(Reporting by John Revill; editing by David Evans)

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