Swiss authorities are considering the possibility of the full or partial nationalization of the second largest bank in the country after UBS. Bloomberg.
Authorities are considering this option if the deal with UBS, which offers to buy Credit Suisse for about 1 billion francs ($1.1 billion), fails, according to the agency. According to knowledgeable sources, Credit Suisse management is delaying this deal with the support of its largest shareholder, the National Bank of Saudi Arabia. However, negotiation leverage is limited as other options can be even more painful for investors.
16 March Credit Suisse (CS) management reportedIt will borrow 50 billion Swiss francs, or about $53.7 billion, from the Swiss National Bank (local central bank) to “keep the bank’s core business at an optimal level amid the sharp decline in share prices and encourage customers to continue” existing deposits.
It was later recognized negotiations UBS acquires Credit Suisse