According to Federal Councilor Karin Keller-Sutter, it is internationally recognized that the CS solution adopted avoid a financial crisis has. She said this at the spring meeting of the International Monetary Fund.
At the extraordinary session has he National Council the CHF 109 billion emergency loans to CS rescue rejected.
The UBS will the CS for three billion francs take over. In order to reduce risks for UBS, the federal government is taking on a Loss guarantee of nine billion Swiss francs.
Overall, the federal government and the Swiss National Bank (SNB) provide security guarantees 259 billion francs available.
A compilation of the most important articles on the current banking crisis can be found here.
Credit Suisse: Takeover by UBS
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KEYSTONE/Michael Buholzer
The major bank Credit Suisse is taken over by UBS. The latest developments relating to CS and the current banking crisis in Switzerland as well as reactions and assessments can be found here.
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