UBS agrees to buy troubled Credit Suisse for more than $2B to 'secure financial stability'

By News on the Net -- New York Post —— Bio and Archives March 19, 2023

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UBS, Switzerland’s largest bank, has agreed to buy rival Credit Suisse for more than $2 billion in an emergency deal to avoid turmoil stemming from the current banking crisis.

The Swiss National Bank announced the deal on Sunday, saying that it would “secure financial stability and protect the Swiss economy,” following worldwide market panic after the fall of America’s Silicon Valley Bank and Signature Bank. ---More...