Credit Suisse, the Risk-Taking Swiss Banking Giant, Succumbs to Crisis
The bank agreed to be bought by UBS, ending 167 years as an independent institution.
| Date: | Mar. 19, 2023 7:00 PM ET |
| Link: | More at "The Wall Street Journal" |
| Source: | WSJ.com: US Business - wsj.com |
| Category: | Business |
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Swiss bank UBS takes over ailing Credit Suisse
Banking giant UBS is buying its smaller rival Credit Suisse for almost $3.25 billion, in an effort to avoid further market-shaking turmoil in global banking.
Mar. 20, 2023 - GANNETT Syndication Service - Top stories -
European markets open higher after Credit Suisse takes up Swiss Central Bank support
• Credit Suisse's $50 billion lifeline calms panic • Why are people worrying about Credit Suisse? The bank is 'systemically important' • KFILE: Florida Gov. Ron DeSantis blames SVB's diversity initiatives and federal regulators for crisis • ...
Mar. 16, 2023 - CNN.com - RSS Channel - HP Hero - Top stories -
Credit Suisse takes $54bn loan from Swiss central bank after share price plunge
After largest shareholder was unable to provide backing, Europe’s 17th largest lender says it will use government help to become ‘simpler and more focused’ Credit Suisse has announced that it will take a CHF50bn ($53.7bn) loan from the Swiss ...
Mar. 15, 2023 - The Guardian - World -
Credit Suisse deal halted crisis, Swiss national bank says
The Swiss central bank has hiked its key interest rate and declared that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil
Mar. 23, 2023 - ABC News: International - World -
Credit Suisse deal halted crisis, Swiss national bank says
The Swiss central bank has hiked its key interest rate and declared that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil
Mar. 23, 2023 - ABC News: Top Stories - Top stories -
Swiss president announces plan for Swiss bank UBS to take over troubled rival Credit Suisse
Swiss president announces plan for Swiss bank UBS to take over troubled rival Credit Suisse
Mar. 19, 2023 - ABC News: International - World -
Credit Suisse takeover risks limiting choice for Swiss start-ups, warns On Running
Premium athletic brand used bank and its rival UBS when it listed in 2021
Mar. 21, 2023 - UK homepage - Business -
Credit Suisse whistleblowers say Swiss bank has been helping wealthy Americans dodge U.S. taxes for years
The bank notoriously pleaded guilty in 2014 to criminal charges for "knowingly and willfully" helping U.S. clients hide offshore assets and income from the IRS.
5 hours ago - US Top News and Analysis - Business -
Majority of Swiss want new UBS-Credit Suisse mega bank split up
Results of poll add momentum to calls for a review of the forced merger and for the clawing back of bonuses
Mar. 24, 2023 - UK homepage - Business -
Majority of Swiss want new UBS-Credit Suisse mega bank split up
Results of poll add momentum to calls for a review of the forced merger and for the clawing back of bonuses
Mar. 24, 2023 - World - World -
Swiss central bank hikes interest rates by 50 basis points despite Credit Suisse turmoil
The Swiss central bank has increased rates by 50 basis points, taking its policy rate to 1.5%.
Mar. 23, 2023 - US Top News and Analysis - Business -
Swiss bank USB is acquiring smaller rival Credit Suisse for over $3 billion
Swiss bank USB is acquiring smaller rival Credit Suisse for over $3 billion
Mar. 19, 2023 - ABC News: International - World -
Credit Suisse shares soar over 18% on Swiss National Bank loan announcement
Credit Suisse shares rose over 30% at the market open after the bank said that it will borrow up to $54 billion from the Swiss National Bank.
Mar. 16, 2023 - US Top News and Analysis - Business -
Credit Suisse shares rally after $54bn lifeline from Swiss central bank
Troubled lender taps emergency funding following sell-off that shook global financial sector
Mar. 16, 2023 - UK homepage - Business -
Credit Suisse to borrow up to nearly $54 billion from Swiss National Bank
Credit Suisse announced it will be borrowing up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a covered loan facility and a short-term liquidity facility.
Mar. 16, 2023 - US Top News and Analysis - Business -
FirstFT: Credit Suisse shares rebound after Swiss central bank steps in
Also in today’s newsletter, Larry Fink warns of a ‘slow rolling crisis’, and the $2bn transfer to SBF
Mar. 16, 2023 - World - World -
Swiss central bank backs Credit Suisse
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Mar. 16, 2023 - World - World -
Credit Suisse to borrow up to $54bn from Swiss central bank
A slump in the troubled lender's shares has intensified fears about a broader bank crisis.
Mar. 15, 2023 - BBC News - Home - Top stories -
Credit Suisse to borrow about $54 billion from Swiss central bank
Credit Suisse announced late Wednesday it was taking "decisive action" and borrowing up to 50 billion Swiss francs -- about $54 billion -- to ease investor fears.
Mar. 15, 2023 - MarketWatch.com - Top Stories - Business -
Swiss National Bank says it will provide Credit Suisse with liquidity if necessary
The SNB said Wednesday that Credit Suisse is currently well capitalized but that the central bank will provide additional liquidity if necessary.
Mar. 15, 2023 - US Top News and Analysis - Business -
Swiss central bank ready to provide support to Credit Suisse
Switzerland's central bank said Wednesday it was ready to provide financial support to Credit Suisse after shares in the country's second biggest lender crashed as much as 30%.
Mar. 15, 2023 - CNN.com - RSS Channel - HP Hero - Top stories -
Swiss central bank offers Credit Suisse liquidity backstop
Lender tumbles as much as 30% after top shareholder rules out participating in equity raise
Mar. 15, 2023 - UK homepage - Business -
Credit Suisse: Swiss National Bank must step in to halt three-way doom loop
The onus is now on the Swiss central bank to reassure investors
Mar. 15, 2023 - UK homepage - Business -
Fall of Credit Suisse shows more work is needed on bank risk
Lessons should be drawn from how the crisis at the bank developed
Mar. 19, 2023 - World - World -
Fall of Credit Suisse shows more work is needed on bank risk
Lessons should be drawn from how the crisis at the bank developed
Mar. 19, 2023 - UK homepage - Business