To avoid a collapse of the banking and financial system, Swiss authorities are preparing to use emergency measures to speed up the takeover of Credit Suisse - the country's second largest bank, which is under pressure after the collapse of two banks in the US.
According to the Financial Times, Switzerland's largest bank, UBS, is in negotiations to buy all or part of Credit Suisse. UBS is asking the Swiss government to support about $6 billion in costs if it buys Credit Suisse.
Credit Suisse, a 167-year-old Swiss bank, has been in turmoil for the past two years. It is considered a weak link in the banking sector due to a series of scandals and a major restructuring program announced in October.
Hong Nhung (VOV1)
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