The Swiss government is negotiating options to stabilize Credit Suisse – #Swiss #government #negotiating #options #stabilize #Credit #Suisse
March 15 (Reuters) – Swiss authorities and Credit Suisse Group AG are discussing ways to stabilize the bank, Bloomberg reported on Wednesday, citing people familiar with the matter. news gives
Credit Suisse leaders and government officials have reportedly discussed options ranging from a public statement of support to a potential liquidity freeze.
For Credit Suisse offer Other potential moves include a potential spin-off of their Swiss unit and a tie-up with larger Swiss rival UBS Group AG ( UBSG.S ), the report said, though it was unclear which of these would happen. steps actually execution will be done.
Swiss bank Wednesday Europe Switzerland is under pressure from at least one major government to quickly intervene in Credit Suisse, a source familiar with the situation told Reuters after its bank wrote off its shares.
Credit Suisse shares fell as much as 30.8%, Europe led to a 7% drop in the banking index .SX7P, while a five-year low for the flagship Swiss bank credit default swaps (CDS) hit new record highs, reviving broader fears. threat to the financial system.
Reporting by Akriti Sharma in Bengaluru;
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2023-03-16 00:55:31
Source – reuters
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