NOW - Swiss government confirms Credit Suisse takeover by UBS and says, "the bankruptcy of a global systematically important bank would have caused irreparable economic turmoil." pic.twitter.com/tAP88HMKu3
— Disclose.tv (@disclosetv) March 19, 2023
- UBS buys Credit Suisse for CHF 3 billion in share deal
- Government provides CHF 9 billion guarantee for possible losses
- Swiss central bank provides CHF 100 billion liquidity guarantee
- Federal Council operates with emergency law