Swiss President Alain Berset said banking giant UBS is acquiring its smaller rival Credit Suisse for almost $3.25 billion in an effort to avoid further market-shaking turmoil in global banking
Axel Lehmann, Chairman Credit Suisse, speaks during a press conference in Bern, Switzerland, Sunday March 19, 2023. Banking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday. Sunday’s news conference by the Federal Council, the seven-member governing body that includes Berset, follows the collapse of two large U.S.
Credit Suisse is among the 30 financial institutions known as globally systemically important banks, and authorities worried about the fallout if it were to fail. Switzerland's executive branch, a seven-member governing body that includes Berset, passed an emergency ordinance allowing the merger to go through without shareholder approval. Following news of the Swiss deal, the world’s central banks announced coordinated financial moves to stabilize banks in the coming week. This includes daily access to a lending facility to backstop banks looking to borrow U.S.
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Banking giant UBS is acquiring smaller rival Credit SuisseBanking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday
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Banking giant UBS is acquiring smaller rival Credit SuisseBERN, Switzerland (AP) — Banking giant UBS is buying its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday night.
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Banking giant UBS announces takeover of Credit SuisseBanking giant UBS is buying its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday night.
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Banking giant UBS announces takeover of Credit SuisseBanking giant UBS is buying its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday night.
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Banking giant UBS announces takeover of Credit SuisseBanking giant UBS is buying its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday night.
Baca lebih lajut »
Banking giant UBS announces takeover of Credit SuisseBanking giant UBS is buying its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday night.
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