Credit Suisse has agreed to a CHF3 billion takeover by rival Swiss bank UBS.
Summary by NewsWall Mar 20 23
- Negotiations took place over the weekend between Credit Suisse, UBS, the Swiss government, central bank, and financial regulator.
- Credit Suisse fell precipitously this week as a result of bank failures in the United States.
- To prevent a full-fledged bank run, the SNB provided emergency liquidity, and Credit Suisse said it would borrow up to CHF50 billion from the central bank.
- Credit Suisse has had a disastrous few years, with a CHF7.3 billion loss in 2022.
Story Details
| Last Updated | Mar 25 23 |
| Total Articles | 332 |
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cnn.com/2023/03/21/business/credit-suisse-merchandise-online/
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washingtonpost.com/business/2023/03/19/ubs-credit-suisse-deal/
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straitstimes.com/business/credit-suisse-bondholders-consider-possible-legal-action-after-23-billion-wipeout-says-law-firm
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Credit Suisse’s takeover causes turmoil in a $275bn bond market: Some even think it could spell the end of the Additional-Tier 1 asset class
economist.com/finance-and-economics/2023/03/20/credit-suisses-takeover-causes-turmoil-in-a-275bn-bond-market
Credit Suisse’s gold bars, hats and bags are cropping up in online stores: Hats, bags and gold bars emblazoned with Credit Suisse's logo are being sold on resale ...
cnn.com/2023/03/21/business/credit-suisse-merchandise-online/
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washingtonpost.com/business/2023/03/19/ubs-credit-suisse-deal/
Credit Suisse bond holders consider possible legal action after $23 billion wipeout
straitstimes.com/business/credit-suisse-bondholders-consider-possible-legal-action-after-23-billion-wipeout-says-law-firm
Credit Suisse agrees to takeover by rival Swiss bank UBS: Ailing Swiss bank Credit Suisse will be taken over by its rival UBS after a frantic last-ditch deal to ...
swissinfo.ch/eng/business/credit-suisse-agrees-to-takeover-by-rival-swiss-bank-ubs/48373120
UBS agrees to buy Credit Suisse for more than $2 billion, Financial Times reports
reuters.com/markets/deals/ubs-agrees-buy-credit-suisse-more-than-2-bln-ft-2023-03-19/
One of America’s biggest investment managers lost $340 million in the surprise Credit Suisse bond write-off
fortune.com/2023/03/22/pimco-america-investment-manager-lost-340-million-surprise-credit-suisse-bond-write-off/
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French insurer AXA has about $640 mln exposure to Credit Suisse: French insurer AXA (AXAF.PA) had a "limited exposure" of about 0.6 billion euros ($639 ...
reuters.com/business/finance/french-insurer-axa-has-about-640-mln-exposure-credit-suisse-2023-03-20/
Credit Suisse: Banking shares drop after Credit Suisse takeover - BBC News: The troubled Swiss bank was bought by its rival UBS in a government-backed deal after ...
bbc.co.uk/news/live/business-65011579
Credit Suisse Bankers Looking for New Jobs Are Flooding Headhunters With Calls: UBS has been clear there will be job cuts, with Credit Suisse likely to be ...
time.com/6264741/credit-suisse-seek-jobs-ubs-takeover/
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What are AT1 bonds and why are Credit Suisse’s now worthless?: Investors in a riskier type of Credit Suisse's bonds had their holdings slashed to zero Sunday ...
cnn.com/2023/03/20/investing/credit-suisse-at1-bond-write-down-explainer/
UBS rescue of Credit Suisse sends shudder through markets - UPI.com: The $3.2 billion rescue takeover of troubled Swiss banking giant Credit Suisse by rival UBS ...
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UBS to Buy Credit Suisse in Save for Global Financial System: The purchase was backed by the Swiss National Bank, the country’s central bank.
thedailybeast.com/ubs-to-buy-credit-suisse-in-save-for-global-financial-system
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UBS agrees 'emergency rescue' of Credit Suisse: The deal, backed by the Swiss government, follows weekend talks aimed at preventing its collapse.
bbc.com/news/business-65007871
Switzerland wakes to new era after historic bank merger; employees 'shocked': Switzerland awoke to a new era on Monday after UBS (UBSG.S) swept up Credit Suisse ...
reuters.com/business/finance/switzerland-wakes-new-era-after-historic-bank-merger-employees-shocked-2023-03-20/
Credit Suisse bondholders prepare lawsuit after contentious $17 billion writedown
cnbc.com/2023/03/21/credit-suisse-bondholders-prepare-lawsuit-after-at1-bond-writedown-in-ubs-deal.html
Switzerland puts up 260 billion francs for Credit Suisse rescue: Credit Suisse and UBS could benefit from more than 260 billion Swiss francs ($280 billion) in ...
reuters.com/business/finance/switzerland-puts-up-260-billion-francs-credit-suisse-rescue-documents-2023-03-20/
Swiss CoCo shakeout may yet help bank regulators: Switzerland’s forced merger of Credit Suisse (CSGN.S) with UBS (UBSG.S) has caused a real stink ...
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Markets Go Calm: A Lehman Pause or the Real Thing?: ECB reassurances for AT-1 bondholders may prove key to confidence after the shock in Switzerland ...
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Anxious Credit Suisse staff flood recruiters amid UBS sale: report: Recruiters in London, New York, and Singapore have received many calls from Credit Suisse ...
businessinsider.com/credit-suisse-staff-bankers-anxious-inundate-recruiters-worldwide-ubs-sale-2023-3
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Equity holders bear losses before holders of AT1 bonds: MAS: Under the takeover deal of Credit Suisse by UBS, holders of additional tier 1 one (AT1) bonds ...
channelnewsasia.com/business/mas-equity-holders-at1-bonds-credit-suisse-ubs-3366886
Gold backs down from $2000 mark as investors gauge banking risks: Gold prices fell on Monday as investors booked profits after the asset rose above a one-year ...
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Ralph Hamers, the Dutchman thrust in the driver's seat at Swiss bank UBS: When Ralph Hamers emerged from days of emergency talks that ended with his Swiss ...
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What happened to Credit Suisse’s AT1 bonds?: Last week, Swiss authorities and UBS Group announced writing off $17 billion worth of AT1 bonds of Credit Suisse ...
business-standard.com/the-morning-show/video/decoded/what-happened-to-credit-suisse-s-at1-bonds-2366.htm
UBS to take over Credit Suisse, assume up to 5 billion Swiss francs in losses: UBS (UBSG.S) agreed to buy rival Swiss bank Credit Suisse (CSGN ...
reuters.com/business/finance/ubs-take-over-credit-suisse-central-bank-2023-03-19/
Credit Suisse bump trade looks over-optimistic: Investors in Credit Suisse’s bombed-out stock are getting a little ahead of themselves ...
reuters.com/breakingviews/credit-suisse-bump-trade-looks-over-optimistic-2023-03-20/
Explainer: Why markets are in uproar over a risky bank bond known as AT1: Just over $17 billion worth of Credit Suisse bonds, known as Additional Tier 1 or AT1 ...
reuters.com/markets/why-markets-are-uproar-over-risky-bank-bond-known-at1-2023-03-20/
How the Credit Suisse takeover could further restrict lending: Investors who held bonds known as CoCos were wiped out in the sale to UBS, triggering fears that ...
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What the takeover of Credit Suisse means for UBS: Swiss banking group has plans for each unit of its defunct rival
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Credit Suisse could trim back office jobs in India: Credit Suisse’s equity strategists Neelkanth Mishra and Ashish Gupta recently quit the bank to join the Axis ...
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Exclusive: Swiss authorities may impose losses on Credit Suisse bondholders: Swiss authorities are examining imposing losses on Credit Suisse (CSGN ...
reuters.com/business/finance/swiss-authorities-mull-imposing-losses-credit-suisse-bondholders-sources-2023-03-19/
Big investor in Credit Suisse bonds says 'bail-in' system worked: One of the largest investors of the Credit Suisse bonds that were wiped out in the UBS takeover ...
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'It's Just Panic,' Says Saudi National Bank Despite Losing Over $1 Billion On Credit Suisse Investment
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MAS to ‘proactively address’ impact on jobs in S’pore from UBS-Credit Suisse merger
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Bank of America halts trading with Credit Suisse electronic stocks desk -email: Bank of America's electronic stocks desk has halted trading with a desk at Credit ...
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International Finance: Credit Suisse bankers swarm headhunters after UBS rescue: Recruiters across the world are getting an unprecedented flood of calls from ...
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Hedge funds eye opportunities in cut-price Credit Suisse AT1s: Distressed debt investors and large hedge funds are buying up Credit Suisse (CSGN ...
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How to Bring Back a Statue (and Also, Maybe a Bank): Cambodia’s treasures, returned. Plus: Credit Suisse is no more.
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Bank of England welcomes Credit Suisse deal, says UK banks are safe: The Bank of England welcomed moves by the Swiss authorities to broker a take-over by UBS of ...
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Swiss bank UBS will take over its competitor Credit Suisse for more than $3 billion
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Credit Suisse bankers flood headhunters with calls after rescue: Headhunters and rival lenders have been fielding calls over the past few days from anxious staff ...
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Credit Suisse’s Message to Clients: No Need to Take Action Right Now: The bank gives its employees guidelines on how to answer client questions
wsj.com/articles/credit-suisses-message-to-clients-no-need-to-take-action-right-now-a3b6fc93
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swissinfo.ch/eng/business/swiss-government-orders-freeze-on-credit-suisse-bonus-payments/48380284
UBS said to be in takeover talks with Credit Suisse amid turmoil: A merger between Switzerland's two largest banks could ease growing concerns that turmoil at ...
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Exclusive: Credit Suisse says some clients may want to move wealth assets after UBS deal-memo
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Global News Podcast - UBS agrees 'emergency rescue' of Credit Suisse bank - BBC Sounds
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UK 'Safe and Sound', Insists Bank of England After Emergency Credit Suisse Deal: The Bank of England has insisted the financial system in the UK remains "safe ...
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swissinfo.ch/eng/business/switzerland-braces-for-wave-of-bank-job-losses/48378898
UBS CEO says bank can handle risks of Credit Suisse takeover: UBS (UBSG.S) can handle the risks from taking over Swiss rival bank Credit Suisse (CSGN.S) ...
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Stunned Credit Suisse staff fear uncertain future despite UBS rescue deal: Credit Suisse staff arriving to work in Asian financial centres on Monday morning ...
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How UBS-Credit Suisse Merger Has Put The Future Of 14,000 Indian Employees In Jeopardy
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Credit Suisse, SVB, Signature Bank: What you need to know: UBS (UBSG.S) agreed to buy rival Swiss bank Credit Suisse (CSGN.S) for 3 billion Swiss francs ($3 ...
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Fraught investors keep pressure on global bank bonds: Global bank stock and bond prices attempted to steady on Tuesday as regulators sought to convince investors ...
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Rescue of Switzerland’s secretive Credit Suisse rocks global finance: The rescue favors the bank’s shareholders to the detriment of bond investors.
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Lawyers circle around rushed Credit Suisse takeover: The takeover of Credit Suisse by UBS may face numerous legal challenges from investors and shareholders.
swissinfo.ch/eng/business/lawyers-circle-around-rushed-credit-suisse-takeover/48378402
Credit Suisse customers feel mix of anger, relief after sale to UBS: Relief that authorities stepped in to help protect deposits but worry about keeping cash ...
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Asian markets downcast despite UBS takeover of Credit Suisse: The 225-issue Nikkei average, Hong Kong’s Hang Seng and Australia’s S&P/ASX were all down ...
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Credit Suisse’s First Boston Plan in Doubt Amid Crisis Talks: Michael Klein, the CEO-designate of Credit Suisse Group AG’s investment-banking spin off ...
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European bank shares rally, bonds battered after Credit Suisse debt wipeout: European bank shares rose from four-month lows on Monday, following the state-backed ...
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Giant bank deal triggers political backlash in Switzerland: Switzerland's two biggest political parties sharply criticized UBS's (UBSG.S) takeover of Credit ...
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