A year after the near-collapse of Credit Suisse, European banks have been experiencing a bumpy recovery. The incident had initially sent European bank shares tumbling and the cost of insuring against default soaring. In the aftermath, Europe's private credit funds have increasingly borrowed from banks to boost their performance, raising concerns about the interconnected risks this poses. Additionally, UBS's rescue takeover of Credit Suisse has introduced new risks and challenges for the Swiss economy, according to the OECD. The organization also highlighted that the Swiss National Bank's large balance sheet presents further risks and challenges that need careful navigation.