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The final deal to purchase Credit Suisse for CHF 3 billion ($3.2 billion) was accepted by the board of Credit Suisse prior to the opening of Asian financial markets on Monday morning. The acquisition was an all-stock deal, with Credit Suisse shareholders receiving 1 UBS share per 22.48 Credit Suisse shares, equivalent to CHF 0.76 per share.
SNB’s chairman, Ammar Al Khudairy, said Credit Suisse was “a very strong bank” and was unlikely to need more cash after raising 4bn Swiss francs (£3.59bn) to fund a major restructuring plan ...
Credit Suisse collapsed in March 2023 after a series of scandals and setbacks, and was taken over by UBS. UBS welcomed the ruling, noting that the case was a legacy matter relating to Credit Suisse.
As the bank faced significant liquidity issues, on March 16, it received a $30 billion lifeline in the form of deposits from a number of major U.S. banks, on top of a $70 billion financing facility provided by JPMorgan Chase & Co. [74] [75] Eleven of the largest U.S. banks participated in the rescue effort, [76] under the direction of Jamie Dimon.
Suisse Secrets was a February 2022 leak of details of more than CHF 100 billion (roughly US$108.5bn, €95.5bn or £80bn) held in nominee accounts linked to over 30,000 clients of Credit Suisse, [1] the largest ever leak from a major Swiss bank.
"It's the politicians' turn on the Credit Suisse issue," the SonntagsZeitung quoted Prisca Birrer-Heimo, a Social Democrat member of the lower house's economic affairs committee, as saying ahead ...
When the acquisition of Credit Suisse by UBS was announced on 19 March 2023, Swiss regulator FINMA stated that CHF16 billion ($17 billion) of Credit Suisse additional tier one (AT1) bonds would be written down to zero. [26] Only AT1 bonds issued by the two Swiss banks allow for such in their terms; most such securities have more protections. [27]
Credit Suisse on Thursday said it would borrow up to $54 billion from the Swiss central bank to shore up liquidity and investor confidence after a slump in its shares intensified fears about a ...