© Reuters. UBS Group and Credit Suisse logos are seen in this illustration taken March 18, 2023. REUTERS/Dado Ruvic/Illustration
BERN (Reuters) – UBS will choose around Credit rating Suisse, Swiss authorities explained on Sunday, to aid rescue the embattled financial institution.
The offer features 100 billion Swiss francs in liquidity guidance for UBS and Credit Suisse.
“With the takeover of Credit history Suisse by UBS, a option has been identified to secure financial balance and shield the Swiss economic system in this excellent situation,” the Swiss central financial institution and other authorities explained.