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March 18, 2023

UBS to Buy Credit Suisse

In a shotgun merger arranged by Swiss authorities to avoid additional market-shaking instability in global banking, UBS agreed to buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock and agreed to bear up to 5 billion francs ($5.4 billion) in losses. As part of the agreement, the Swiss central bank would provide UBS and Credit Suisse with 100 billion Swiss francs in liquidity assistance, or around $108 billion.

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UBS to Buy Credit Suisse

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UBS to Buy Credit Suisse

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