European Commission approves acquisition of Credit Suisse by UBS
The European Commission has approved unconditionally, under the EU Merger Regulation, the merger between Credit Suisse and UBS.
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.
Due to the planned acquisition of Credit Suisse, Christian Bluhm has agreed to remain in his role as Group Chief Risk Officer.
Credit Suisse also has to examine whether variable remuneration already paid out can be recovered.
UBS and a global Asian bank have executed the first cross-border intraday repo transaction on Broadridge’s DLR platform.
HSBC, JPMorgan, Citi, Barclays, BofA, and UBS have managed to beat claims that they conspired to fix prices in the FX market.
The Swiss FINMA explains the basis for the complete write-down of the nominal value of AT1 capital instruments issued by Credit Suisse.