The existing regulation is sufficient. Among all the issues raised by this question, three of them deserve to be addressed.

Firstly, the fact that Credit Suisse's (CS) troubles are primarily due to the bank's management (board of directors and executive board) which did not follow - in the aftermath of the 2008 financial crisis - a strategy aimed at the bank's medium-term success, with all the restrictions/actions that this implies.

Secondly, the fact that FINMA did not have the courage to sanction CS management's unacceptable "nonchalance". And as the proverb says: "The pitcher goes so often to the well that it is broken at last". FINMA is not confronted with the day-to-day complexity of the companies it oversees. Its great challenge is to differentiate the analysis of financial/accounting indicators for each company and to identify the references to be applied on a case-by-case basis. In case of difficulties (for example: the non-implementation of required corrective measures), FINMA must apply sanctions, at the risk of creating a (public) uproar. A broader debate will have the advantage of bringing in other opinions. FINMA is not God on earth and can also make mistakes. Broadening the debate will improve its transparency (not always in the direct interest of the company concerned) and therefore the search for and implementation of a solution.

Finally, increasing regulation will not reduce the risk represented by UBS. It is an easy solution allowing politicians to have a "clear conscience", in the absence of a good knowledge of the banking sector. In this case, UBS will find and apply the necessary solutions. In three to five years, this subject will no longer be topical. The regulatory references will be respected. The bank's management, however, will continue to play an essential role in its success.

Past bailouts show us that banks are critical infrastructure that cannot be allowed to go bankrupt. And that they will not self-regulate. If the state does not want to have to pick up the pieces every 10 years, it must put in place regulation that secures banks or it must assume its role as insurer of the financial system and make them pay premiums.