Credit Suisse stock

Banking giant UBS is buying its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain ...

ECB President Christine Lagarde said the banks "are in a completely different position from 2008" during the financial crisis, partly because of stricter government regulation. Notably, Credit Suisse did not need government assistance in 2008 during the financial crisis, while UBS did. That fanned fears that Credit Suisse would be the next domino to fall. It said the deal includes 100 billion Swiss francs ($148.4 billion Cdn) in liquidity assistance for UBS and Credit Suisse. As a result, their downfall does not necessarily signal the start of a financial crisis similar to what occurred in 2008. An uncontrolled collapse of Credit Suisse would lead to incalculable consequences for the country and the international financial system."

Update: UBS has agreed to purchase Credit Suisse for $2B. Last week, Europe's banking stocks suffered their biggest drop in a year as Credit Suisse ...

This is an uneasy decision to make for any regulator, and especially for the Swiss, who have been proud bankers of the world for many decades. However, other options for the future of CS may be even worse for shareholders of the “Schrödinger’s Cat” of finance, unknown to be alive or dead before the markets open on Monday. The largest Swiss lender also insists that if CS’s credit default swaps (a price of an “insurance” against default) rise by 100 bps or more after the deal is signed, it would void the contract. UBS also demanded extensive guarantees and backstops to cover future risks and asking the Swiss government for a pledge to take on potential losses from the deal. This would work out perfectly for a small company or even a small bank, but it’s hard to see such a breakneck speed when the entity concerned is among the world’s largest wealth managers and is one of 30 global systemically important banks. Eventually, the Swiss central bank was forced to provide Credit Suisse with a $54 billion in a liquidity backstop to help revive investor confidence; although twice smaller than it was before the 2008 crisis, the bank is still too big to fail.

With the fate of Credit Suisse Group AG finally decided, investors were getting ready for another gut-wrenching week of trading.

Swiss regulators engineered a takeover of Credit Suisse by UBS in an attempt to restore confidence in the country's banking sector.

[sank 8.01%](https://www.cnbc.com/2023/03/17/credit-suisse-sheds-another-5percent-as-traders-digest-emergency-liquidity.html). [stock futures rose](https://www.cnbc.com/2023/03/19/stock-market-today-live-updates.html)on the news. [buy Credit Suisse for 3 billion Swiss francs ($3.2 billion)](https://www.cnbc.com/2023/03/19/ubs-agrees-to-buy-credit-suisse-as-regulators-look-to-shore-up-global-banking-system.html). Over in the U.S., First Republic [plunged 32.80%](https://www.cnbc.com/2023/03/17/first-republic-shares-fall-despite-deposit-infusion-dragging-down-other-regional-banks.html)— and a further 15.37% in after-hours trading. Fed officials say they rely on data to determine the trajectory of interest rates. As Doug Roberts, founder and chief investment strategist at Channel Capital Research, said, Fed officials have "to do something, otherwise they lose credibility." Despite rebounding on Thursday amid news of financial support by central banks and financial regulators, on Friday, banks were badly hammered — once again — and dragged down major indexes with them. A stock may skyrocket one day on news it got billions from a cash infusion, and crater the next even though nothing material has changed in the intervening period. The biggest shifts: Visa, Mastercard and Paypal moved to the financial sectors from technology; Target, Dollar General and Dollar Tree joined Walmart as consumer staples from their previous category of consumer discretionary. A bank may be perfectly solvent one minute and collapse from a bank run the next. You can subscribe Like what you see?

SINGAPORE — A volatile day looms in Asia on Monday, as investors' relief at a rescue deal for Credit Suisse and co-ordinated support from global central ...

Stockmarkets were yet to open in Asia. U.S. “It’s the irony of good news reflecting how bad things are. Central banks including the U.S. The safe-haven yen was steady. Article content

Financial Times reports that the two banks had little interaction, and that the Swiss government is working on changing rules that require a six-week ...

[ailing stock price](https://www.investopedia.com/shares-of-credit-suisse-plummet-to-all-time-lows-7255792). Most recently, the firm found ["material weakness"](https://www.investopedia.com/credit-suisse-material-weakness-7255239) in its accounting procedures, delaying its annual report and sparking questions from the U.S. 3 The Swiss National Bank will also offer UBS a 100 billion CHF ($108 billion) credit line to sweeten the terms.4 However, this transaction means a "complete write-down) of 16 billion CHF ($17.28 billion) of Credit Suisse bonds that will become worth nothing.2 We have structured a transaction which will preserve the value left in the business while limiting our downside exposure. "[A]s far as Credit Suisse is concerned, this is an emergency rescue.