In March this year, UBS agreed to pay 3 billion Swiss francs or $3.37 billion and assume upto 5 billion francs in losses for Credit Suisse after lowered customer confidence brought it to the brink of collapse.
US banking crisis looks far from over. Los Angeles-based bank holding company PacWest Bancorp is reportedly exploring strategic options, including a sale or capital raising, fuelling concerns about a possible collapse.
Tens of billions were withdrawn from Credit Suisse in the first three months of 2023, the bank's earnings report showed Monday, providing clues to the towering challenges ahead as UBS prepares an emergency takeover.
Credit Suisse commissioned an investigation into allegations levied by a human rights organization that the bank held potential Nazi-linked accounts and failed to disclose them
The lower house retrospectively rejected the rescue near midnight, with heated debates continuing into the early hours of Wednesday morning as members discussed other measures related to Credit Suisse.