UBS To Buy Credit Suisse in $3.2 Billion

HINDUSTANVIEW.COM UBS is going to buy bankrupt Credit Suisse in a deal brokered by the government of Switzerland.

HINDUSTANVIEW.COM The landmark agreement comes as significant banks continue to deal with the fallout from Silicon Valley Bank's sudden collapse earlier this month.

HINDUSTANVIEW.COM The landmark agreement comes as significant banks continue to deal witCredit Suisse had already suffered a series of losses and scandals in the previous two weeks. h the fallout from Silicon Valley Bank's sudden collapse earlier this month.

HINDUSTANVIEW.COM UBS-CS acquisition avoided a sudden bankruptcy, but investors were worried by the losses caused on shareholders of $17 billion in Credit Suisse bonds. h the fallout from Silicon Valley Bank's sudden collapse earlier this month.

HINDUSTANVIEW.COM Credit Suisse revealed the acquisition in a news release, which is expected to be finished by the end of 2023. h the fallout from Silicon Valley Bank's sudden collapse earlier this month.

HINDUSTANVIEW.COM According to Karin Keller-Sutter, president of FINMA. The agreement was reached in the hopes to avoid significantly change"irreparable financial crises in Switzerland and throughout the world, h the fallout from Silicon Valley Bank's sudden collapse earlier this month.

HINDUSTANVIEW.COM Colm Kelleher, chairman of UBS, stated that "we have structured a transaction which will protect the value remaining with the company while limiting our risk of downside. h the fallout from Silicon Valley Bank's sudden collapse earlier this month.

HINDUSTANVIEW.COM In addition, the Swiss government provided a guarantee to cover losses from certain assets that exceed an established limit of up to 9 billion Swiss francs in order to decrease any risks for UBS. h the fallout from Silicon Valley Bank's sudden collapse earlier this month.