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.
United Kingdom Latest News, United Kingdom 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 »
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 »
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 »
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 »
BlackRock assembles rival Credit Suisse takeover bid\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 »