UBS resolves Credit Suisse regulatory matters related to Archegos
Credit Suisse agreed to pay USD 269 million to the Federal Reserve and GBP 87 million (USD 119m) to the PRA.
Credit Suisse agreed to pay USD 269 million to the Federal Reserve and GBP 87 million (USD 119m) to the PRA.
MAS says UBS and Credit Suisse operations in Singapore to continue without interruption following legal completion of takeover.
The higher “too big to fail” capital requirements due to the progressive component will fully apply to UBS after an appropriate transitional period.
Credit Suisse Group AG has been merged into UBS Group AG and the combined entity will operate as a consolidated banking group.
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.
UBS Group AG will initially manage the two separate parent companies – UBS AG and Credit Suisse AG.
In the first quarter, UBS attracted $28bn of net new money in GWM, of which $7bn came in the last ten days of March.