Switzerland’s largest bank, UBS, is in talks to acquire Credit Suisse, the country’s second largest bank. The newspaper writes about it, citing sources. Finance Times.
According to the publication, the talks were organized by the Swiss National Bank (SNB) and Swiss financial regulator FINMA, with the aim of building confidence in the confederation’s banking sector. It was noted that both full and partial purchases were discussed.
On the eve of the Swiss Credit Suisse press service, the leadership will borrow up to 50 billion Swiss francs (about $53.7 billion) from the Swiss National Bank.
March 16 SNB gave A Credit Suisse loan of up to 50 billion francs (about $53.7 billion), but as the article states, this did not prevent the lender’s shares from falling, as large investors refused to provide additional capital to the bank and were withdrawn. funds from wealthy clients continued. Thus, at the end of transactions on March 17, Credit Suisse’s capitalization fell to $8 billion against UBS’s $56.6 billion.
on friday reportedShareholders of Swiss banking group Credit Suisse in the US reportedly filed a lawsuit against the credit institution and its management, accusing it of violating US securities laws.
The plaintiffs accused the Swiss credit institution of misleading investors, as Credit Suisse failed to disclose information about the current decline in liquidity and the vulnerability in internal control to the decline in the value of the company’s securities.