Swiss authorities and UBS sign loss protection agreement
The priority for the federal government and UBS is to minimise potential losses and risks so that recourse to the federal guarantee is avoided.
The priority for the federal government and UBS is to minimise potential losses and risks so that recourse to the federal guarantee is avoided.
$CSGN.ZU will be offered to clients of online broker eToro until the closing of the market on Thursday, June 8th, 2023
Credit Suisse shareholders will receive one UBS share for every 22.48 outstanding shares held.
Credit Suisse is no longer in compliance with the NYSE’s continued listing minimum price criteria set forth in the NYSE Listed Company Manual.
The European Commission has approved unconditionally, under the EU Merger Regulation, the merger between Credit Suisse and UBS.
Switzerland’s Federal Council has opened a consultation on the introduction of a public liquidity backstop for systemically important banks.
UBS Group AG will initially manage the two separate parent companies – UBS AG and Credit Suisse AG.
The Resolution report does not take account of subsequent events, in particular the merger of UBS and Credit Suisse.
In the first quarter, UBS attracted $28bn of net new money in GWM, of which $7bn came in the last ten days of March.
Credit Suisse’s performance in Q1 2023 was mainly impacted by actions leading up to the planned merger with UBS.