Swiss government orders Credit Suisse to suspend bonus payments

Credit Suisse in Zurich, Switzerland (Ennio Leanza/Keystone/AP)

Switzerland’s government has ordered Credit Suisse to temporarily suspend bonuses for employees, after orchestrating a plan for the Swiss bank to be taken over by rival UBS.

The Swiss department of finance says federal law allows the government to set “remuneration-related measures” in cases involving Switzerland’s biggest banks.