The Bank of England has told its Swiss counterpart and the country's two biggest banks that it will not object to an emergency merger, Sky News understands.
Sunday 19 March 2023 10:23, UK
British banking watchdogs have given their blessing to a takeover of Credit Suisse by its Swiss peer UBS, as financial regulators around the world race to contain the industry's biggest crisis since 2008.has indicated to international counterparts and to UBS that it will support the emergency transaction, which both European banking giants want to announce later on Sunday.
Although Credit Suisse has a market capitalisation of just $8bn - down from close to $100bn at its 2007 peak - fears for its future have sent shockwaves through financial markets across the world. Its vast investment bank balance sheet is reported to represent a stumbling block in the talks with UBS, and the precise structure of a deal remained unclear on Sunday morning.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UBS in talks to acquire Credit Suisse\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
UBS and regulators rush to seal Credit Suisse takeover deal\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
Credit Suisse bank: UBS said to be in takeover talks with troubled rivalEmergency talks are reported in Zurich as regulators seek a deal for Credit Suisse before Monday.
Read more »
European bank stock rally fades as Credit Suisse shares fall\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Read more »
Markets still uncertain after SVB and Credit Suisse shocksConcerns abound as the FTSE is on course to be down in the week overall and questions swirl around strategically important banks rescuing First Republic Bank.
Read more »
Ulrich Körner, the man trying to hold Credit Suisse together\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »