By John O’Donnell

BERN (Reuters) -Switzerland’s monetary regulator FINMA known as for extra energy to penalise and identify and disgrace banks that break the principles, following the collapse of the nation’s second-biggest financial institution, Credit score Suisse.

The financial institution needed to be rescued final month by a shotgun merger with larger rival UBS engineered by Swiss authorities after the 167-year-old establishment bought ensnared in market turmoil unleashed by the collapse of two mid-sized U.S. lenders.

“Our devices hit their limits in excessive circumstances as seen within the case of Credit score Suisse,” FINMA president Marlene Amstad instructed journalists. Amstad mentioned it could be value constructing these powers.

“FINMA has no energy to nice,” she mentioned, including that she would welcome such an influence. “It is an exception when put next with different regulators.”

She additionally mentioned that many of the regulator’s probes into banks needed to stay secret to guard stability, including that this could change.

“FINMA is eager to make sure that we will make our work extra seen to the general public in future – as our supervisory colleagues in different nations are sometimes allowed to do,” she mentioned.

On Tuesday, Credit score Suisse’s chairman apologised for taking the financial institution to the brink of chapter, as he confronted shareholder fury and requires penalties for these chargeable for the fast demise of a nationwide icon.

UBS administration will search to reassure shareholders in a while Wednesday that the takeover bankrolled by the Swiss authorities can work.