The demise of banking giant Credit Suisse sent shockwaves through financial markets and appears to have dealt a blow to Switzerland's reputation for stability.
"The Credit Suisse debacle will have serious ramifications for other Swiss financial institutions. A country-wide reputation with prudent financial management, sound regulatory oversight, and, frankly, for being somewhat dour and boring regarding investments, has been wiped away," Marenzi said.closing higherCredit Suisse, meanwhile, was trading 0.6% lower during morning deals after ending Monday's session down a whopping 55%.
Asked about how investors might now think about Switzerland's reputation for stability, Parker replied, "When I was in Zurich last week, this subject actually was a hot topic."
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Analysis: UBS swallows Credit Suisse, casting shadow over SwitzerlandUBS Group emerged as Switzerland’s one and only global bank with a state-backed rescue of its smaller peer Credit Suisse, a risky bet that makes the Swiss economy more dependent on a single lender.
Baca lebih lajut »
Musk responds to $100B credit line in $2B UBS-Credit Suisse deal: 'Wow'Twitter CEO Elon Musk responded to the news that UBS would get a $100 billion credit line in the buyout of Credit Suisse for $2 billion, with one word: wow.
Baca lebih lajut »
Switzerland puts up 260 billion francs for Credit Suisse rescue, documents showCredit Suisse and UBS could benefit from more than 260 billion Swiss francs ($280 billion) in state and central bank support, a third of the country's gross domestic product, as part of their merger to buffer Switzerland against global financial turmoil, documents outlining the terms of the deal show.
Baca lebih lajut »
Switzerland puts up 260 billion francs for Credit Suisse rescueCredit Suisse and UBS could benefit from more than 260 billion Swiss francs ($280 billion) in state and central bank support, a third of the country's gross domestic product, as part of their merger to buffer Switzerland against global financial turmoil, documents outlining the deal show.
Baca lebih lajut »
Switzerland's secretive Credit Suisse rescue rocks global financeDays before a hastily convened press conference late on Sunday that would make the world's front pages, Switzerland's political elite were secretly preparing a move that would jolt the globe.
Baca lebih lajut »
UBS Offers $1 Billion to Buy Credit SuisseBreaking: UBS has offered to buy Credit Suisse for around $1 billion in a deal engineered by Swiss regulators to restore trust in the banking system
Baca lebih lajut »