Published 1 year ago

Switzerland puts up 260 billion francs for Credit Suisse rescue

Summary by Ground News

UBS said it will pay $3.2 billion for the 167-year-old flagship. UBS would also take on the first $5.4 billion in losses from unwinding derivatives. The total of 259 billion francs of support is equivalent to a third of Switzerland's entire economic output.

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Reuters

Switzerland puts up 260 billion francs for Credit Suisse rescue

Credit Suisse and UBS could benefit from more than 260 billion Swiss francs ($280 billion) in state and central bank support, a third of the country's gross domestic product, as part of their merger to buffer Switzerland against global financial turmoil, documents outlining the deal show.

1 year ago·United Kingdom

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IBTimes

Switzerland Puts Up 260 Billion Francs For Credit Suisse Rescue -documents

Credit Suisse and UBS could benefit from more than 260 billion Swiss francs ($280 billion) in state and central bank support, a third of the country's gross domestic product, as part of their merger

1 year ago·United States

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Financial Post

Switzerland puts up 260 billion francs for Credit Suisse rescue -documents

ZURICH -- Credit Suisse and UBS could benefit from more than 260 billion Swiss francs ($280 billion) in state and central bank support, a third of the country's gross domestic product, as part of their merger to buffer Switzerland against global financial turmoil, documents outlining the terms of the deal show.

1 year ago·Canada

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Bloomberg

Switzerland Grants UBS 9 Billion-Franc Credit Suisse Guarantee

Switzerland is granting UBS Group AG a 9 billion franc ($9.7 billion) guarantee to cover potential losses related to its takeover of Credit Suisse Group AG.

1 year ago·United States

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The Hindu Business Line

Switzerland puts up 260 billion francs for Credit Suisse rescue

It is equivalent to a third of Switzerland's entire economic output, which stood at 771 billion francs last year

1 year ago·New Delhi, India

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hnonline.sk

Switzerland will provide 260 billion francs to save Credit Suisse

Switzerland will provide huge financial assistance to save Credit Suisse. TASR reports on this, based on a report by Reuters. Part of the agreement to take over the troubled Credit Suisse by Switzerland's largest bank UBS is also aid from the government and Swiss National Bank SNB totalling nearly CHF 260 billion (€263.75 billion), representing up to a third of the country's gross domestic product of GDP. Swiss regulators on Sunday 19. 3. They a…

1 year ago

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