UBS aims to fully integrate Credit Suisse’s Swiss Bank
Today, 31 August 2023, UBS has announced its decision to fully integrate Credit Suisse’s Swiss Bank.
Today, 31 August 2023, UBS has announced its decision to fully integrate Credit Suisse’s Swiss Bank.
UBS has reached an agreement with the United States Department of Justice (DOJ) to settle a legacy matter from 2006-2007.
UBS Group AG will voluntarily terminate the CHF 9 billion Loss Protection Agreement (LPA) with the Swiss government.
Credit Suisse agreed to pay USD 269 million to the Federal Reserve and GBP 87 million (USD 119m) to the PRA.
UBS has made an investment in Numarics through its venture and innovation unit, UBS Next.
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.
Credit Suisse shareholders will receive one UBS share for every 22.48 outstanding shares held.