Home > UBS takeover 'right stabilizing move': 'Run on Credit Suisse is not a systemic run on the banking system'

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UBS takeover 'right stabilizing move': 'Run on Credit Suisse is not a systemic run on the banking system'

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UBS's emergency takeover of its troubled Swiss rival Credit Suisse, with significant backing and arm-twisting from Bern, sparked fears Monday it could weaken the country's biggest bank and financial sector as a whole. Switzerland was in shock after its largest bank agreed under pressure from Swiss authorities to swallow up the second largest for $3.25 billion. For more on the UBS takeover, FRANCE 24 is joined by Steven Kelley, Researcher of Financial Crisis Management and Financial Stability at the Yale Program on Financial Stability.

Added on the 22/03/2023 13:08:48 - Copyright : France 24 EN

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