The possible emergency rescue comes after the authorities raced over the weekend to secure the rescue of the 167-year-old bank, in a move hoped to contain the industry's biggest crisis since 2008 and avoid global market turmoil.
The Swiss government will hold a news conference later after UBS made a takeover offer for embattled Credit Suisse, local media reports.
The possible emergency rescue comes after the authorities raced over the weekend to secure the rescue of the 167-year-old bank, which is among the world's largest wealth managers, in a move hoped to contain the industry's biggest crisis since 2008 and avoid global market turmoil.It follows reports Credit Suisse had been resisting an offer from its bigger rival of up to $1bn, believing it to be too low and that it would hurt shareholders and employees who hold deferred stock.
As one of 30 global banks seen as systemically important, any deal for Credit Suisse could have major repercussions forAs a last resort, Swiss authorities have reportedly considered a full or partial nationalisation of the bank.
France Dernières Nouvelles, France Actualités
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