Will the Credit Suisse bank takeover calm financial fears?
Globally connected Credit Suisse has been taken over by rival UBS at the urging of Swiss authorities to avoid a collapse that could have sent shock waves through the global economy
By DAVID McHUGH
Published - Mar 20, 2023, 12:28 PM ET
Last Updated - Jun 22, 2023, 03:19 PM EDT
FRANKFURT, Germany (AP) — In a bid to ease turmoil in the world financial system, Swiss authorities engineered a plan for the UBS bank to acquire its troubled smaller rival Credit Suisse at a marked-down price.
It's another urgent attempt to fight fears that have put the financial world on edge 15 years after the failure of U.S. investment bank Lehman Brothers pitched the global economy into a crisis.
Here are key things to know — and some things that aren't yet known — about the takeover and the wider market anxiety fueled by bank failures in the U.S.
WHY IS UBS TAKING OVER CREDIT SUISSE?
