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The marriage of UBS and Credit Suisse was hastily arranged to prevent a global financial meltdown -- but the resulting megabank could cause domestic problems in Switzerland, the central bank admitted Thursday. UBS and Credit Suisse were both among the 30 banks around the world deemed 'too big to fail' and therefore considered Global Systemically Important Banks.
The marriage of UBS and Credit Suisse was hastily arranged to prevent a global financial meltdown -- but the resulting megabank could cause domestic problems in Switzerland, the central bank admitted Thursday. The Swiss National Bank, which played matchmaker in Sunday's takeover of Credit Suisse, said the creation of one giant bank in Switzerland would create competition
What does the Credit Suisse "bailout" tell us about the current state of banking?
The two largest banks in the wealthy Alpine nation famed for its banking prominence have been in negotiations throughout the weekend
Credit Suisse is Switzerland's second-largest bank and the world's eighth-largest investment bank.