Why Credit Suisse is in trouble and what it means as UBS rescue averts collapse

The latest on Credit Suisse, explained ⬇️

When Credit Suisse’s largest shareholder, Saudi National Bank, announced on Wednesday that it wouldn’t be adding to its investment due to regulatory rules, it added fuel to the fire of investors’ existing concerns. The value of its stocks and bond prices fell dramatically, and there was a surge in clients attempting to withdraw their deposits.What is happening now?

This led to shares in European banks falling with Deutsche Bank and UBS trading 1.8 per cent and 3.7 per cent lower respectively, after regaining some ground.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

i newspaper /  🏆 8. in UK

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.

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 »

UK regulators back merger of banking giants Credit Suisse and UBSThe 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.
Read more »

UBS offers to buy Credit Suisse for up to $1bn\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 »

Swiss government to hold news conference on Credit Suisse after UBS takeover offer - reportsThe 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.
Read more »

Swiss banking giant UBS 'in talks to takeover troubled rival Credit Suisse'Swiss banking giant UBS is reportedly in advanced talks to buy all or part of crisis-hit lender Credit Suisse.
Read more »

Swiss govt to hold news conference after reports of UBS agreeing to buy Credit SuisseThe potential emergency rescue comes after authorities raced over the weekend to secure the future 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.
Read more »