Financial markets will tell the story on Monday of whether UBS's more than $3 billion deal for Credit Suisse is enough to calm down at least one side of the...
Thousands of miles away from U.S. shores last Wednesday, a headline began working its way across Europe, then Wall Street, sparking fresh panic as it dawned on investors that they may be facing yet another banking crisis.
The Swiss National Bank said either Swiss bank can borrow up to 100 billion francs in a liquidity assistance loan, and Credit Suisse will get a liquidity assistance loan of up to 100 billion francs, backed by a federal default guarantee. The U.S. Federal Reserve had worked with its Swiss counterpart on the deal as well.
The deal for Credit Suisse comes in the wake of stress on the U.S. banking sector, triggered by the collapse of Silvergate Bank, Silicon Valley Bank and Signature Bank, all within the space of a week. The Credit Suisse news may only go so far to assuage investors, with some raising an eyebrow over Powell and Yellen’s Sunday statement about the Swiss deal. “Seriously, if everyone truly believed the ‘The capital and liquidity positions of the U.S. banking system are strong, and the U.S. financial system is resilient’ … Would they have to tell us? Are these words enough?” said Jim Bianco, president of Bianco Research, on Twitter.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
UBS in discussions to buy Credit Suisse: reportUBS Group AG is in talks to buy all or parts of Credit Suisse, with their boards meeting separately over the weekend, the Financial Times reported late Friday.
Lire la suite »
Credit Suisse meets to weigh options, under pressure to merge with UBSCredit Suisse Group AG began a make-or-break weekend after some rivals grew cautious in their dealings with the bank as regulators urged it to pursue a deal with Swiss rival UBS AG .
Lire la suite »
UBS in talks to buy troubled Credit Suisse, FT reportsInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Lire la suite »
UBS in talks to acquire Credit Suisse -FT By Reuters*UBS IN TALKS TO TAKE OVER ALL OR PART OF CREDIT SUISSE AS SHARE PRICES FALL $UBS $CS 🇨🇭🇨🇭
Lire la suite »
Credit Suisse under pressure to merge with UBSCredit Suisse Group AG began a make-or-break weekend after some rivals grew cautious in their dealings with the bank and regulators urged it to pursue a deal with Swiss rival UBS AG .
Lire la suite »
UBS seeks Swiss backstop in any Credit Suisse deal - Bloomberg NewsUBS Group AG is asking the Swiss government for a backstop if it were to buy Credit Suisse Group AG , Bloomberg News reported on Saturday.
Lire la suite »