is the “only option” to prevent a “collapse in confidence” in Credit Suisse.
The nationalization would be an emergency option due to the complexities surrounding the deal and the limited time available. Swiss authorities areto accelerate the deal before Asian markets open, including allowing the deal to proceed without a shareholder vote. UBS is reportedly asking the government to shoulder around $6 billion on legal costs and potential future losses in the event of a takeover. UBS is offering $1 billion for Credit Suisse, a considerable discount under the bank's market value on March 17 of nearly $8 billion,Market capitalization history of Credit Suisse, 2001-2023. Source: Companies Market Cap
Swiss authorities are also concerned about job losses due to the deal. According to reports, Credit Suisse was previously
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Looks like bondholders should have done their research before investing in Swiss banks!
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Let First Republic and Credit Suisse burnCredit Suisse, First Republic, and other failing banks should be allowed to face the consequences of their actions, according to J.W. Verret. Now, it’s big banks that are faltering — including Credit Suisse and First Republic — after regional banks, including Signature Bank and Silicon Valley Bank, sparked a cascade. As a result, Moody’s has downgraded the entire banking sector. Screw the banks 'When it rains, it pours. We should provide umbrellas for the banks too!'
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Credit Suisse shares slump as traders gauge outlook for embattled lender By Investing.com⚠️BREAKING: *CREDIT SUISSE STOCK FALLS 8% ON FRIDAY TO SUFFER BIGGEST WEEKLY LOSS SINCE MARCH 2020 $CS 🇨🇭🇨🇭 💥 Credit Swiss Cheese Just 8
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Exclusive: Some Credit Suisse counterparties put curbs on new dealings involving lender -sourcesAt least four major banks, including Societe Generale SA and Deutsche Bank AG , have put restrictions on their trades involving Credit Suisse Group AG or its securities, according to five sources with direct knowledge of the matter. This could be only a beginning, even though Lagarde from ECB said yesterday there was no specific issue in European financial sector. Just before ECB statement, LuisdeGuindos evoked the fact that some (small) European banks could be « vulnerable » to new rate increases.
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Swiss lawmakers tell Credit Suisse to clean up its act, seek to ringfence crisisSwiss lawmakers on Friday vowed to bring those responsible for Credit Suisse's problems to account and urged it to clean up its act after years of scandals, as they sought to contain the crisis and limit any reputational damage to the country. This is good; they probably hadn't considered trying either of those things 'We have no idea what you are doing... please stop.'
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Some Credit Suisse counterparties restrict dealings around lender: reportAt least four major banks have put restrictions on trades that involve troubled Swiss lender Credit Suisse Group or its securities, Reuters reported Friday,...
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