The Swiss government has banned Credit Suisse from paying deferred bonuses awarded before 2022 in a move that has sparked more upset from staff at the failed bank.
The federal finance ministry said on Tuesday it had imposed “remuneration-related measures” on Credit Suisse as a result of the use of taxpayer funds to facilitate its merger with rival UBS.
“This measure relates to already granted but deferred remuneration for the financial years up to 2022, for example in the form of share awards,” the federal council, Switzerland’s executive body, said in an emailed statement.
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