Switzerland's largest bank in talks to save Credit Suisse

Credit Suisse is one of 30 banks deemed to be Global Systemically Important BanksEmbattled Credit Suisse was holding crisis talks this weekend with national banking and regulatory authorities, said reports.

According to the Financial Times newspaper, Switzerland's largest bank UBS was negotiating to buy all or part of Credit Suisse, with the blessing of the Swiss regulators.The Swiss National Bank — the country's central bank — "wants the lenders to agree on a simple and straightforward solution before markets open on Monday," the FT's source said, while acknowledging there was "no guarantee" of a deal.

Credit Suisse, the SNB and the Swiss financial watchdog FINMA all declined to comment when AFP contacted them.UBS would require public guarantees to cover legal costs and potential losses, according to a report by Bloomberg, citing anonymous sources. The Swiss competition commission could also raise eyebrows depending on how any takeover by UBS might be configured.The Swiss government held an urgent meeting to discuss the Credit Suisse situation on Saturday evening in the capital Bern.

Remember the days when banks weren't crashing and we weren't getting towards WW3?

Sanctions against Russia are working.

But at what cost?

So over this. If the free market is so awesome, why dies this happen all the time? The wealthy keep the profits in good times abd socialise the losses when things go bad. Will the execs keep their salaries and bonuses? Regulations should break them up if they are systemic risks

But I thought the West was going to send Russia's economy back to the stone age 😂😂

Swiss banks crumble as Swiss government mothball and destroy weapons that could go to Ukraine. Money laundering, dirty politics, Russian deposits in pseudo neutrality..and now the clock is ticking in Switzerland too NATO

It’s so good our governments and banks are so corrupt and will always save the big businesses and screw over the people. These planned wars and pandemics are the perfect cover. Now let’s destroy the wealth of the pheasant taxpayers.

Buy Gold. Put all your $$$ into GOLD!!! Don’t play the game ! Stop 🛑 the robbery ! Inflation ruination of future generations ability to be a home owner even rent ! Don’t consign our kids to homelessness!! Gold !!

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