Proposed Credit Suisse future still uncertain
Switzerland’s Aufsichtsbehörden has asked UBS to buy a smaller local rival, according to Medienberichten.
Switzerland
Switzerland’s Aufsichtsbehörden has asked UBS to buy a smaller local rival, according to Medienberichten.
(dpa) – The future of the proposed Swiss Großbank Credit Suisse is even more uncertain. The government held an emergency meeting on Saturday night, after which no concrete agreement was reached. In the room stands the full or partial acquisition of the second largest Swiss bank by Switzerland’s largest bank UBS. A spokeswoman for Credit Suisse and UBS said on Sunday that she had no further comment.
Switzerland’s Aufsichtsbehörden has asked UBS to buy a smaller local rival, according to Medienberichten. Voraussetung für einen Deal, über den am Wochenende hektisch werdelt werde, seien staatliche Sicherheiten. Schweizer Regierung in Bern must obtain a warranty to fix this problem. UBS’s takeover of Credit Suisse will be Europe’s most significant bank merger since the financial crisis.
Credit Suisse was already Angeschlagen after the scandal and Misswirtschaft. And also after the US Gel Institute Silicon Valley Bank (SVB) did some research on the whole thing. She got her 50 billion francs (about 51 billion euros) loan from the Swiss National Bank, which only temporarily halted the downtrend in the stock market.
Regierung steht unter konferienchem Druck, die Lage zu stabiliseren in Bern. Because Credit Suisse is one of the 30 global system banks whose failure would rock the international financial system.
Schweizer Zeitung’s “Tages-Anzeiger” sees the acquisition of the bank by UBS as the only solution. Customer trust is completely gone and the money flow is immense. Some international banks restricted their dealings with Credit Suisse. His credit of over 50 billion francs from the National Bank will not help either. “All haben Angst vor dem Kollaps”, so das Blatt.
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