ZÜRICH The Swiss regulators have informed their US and British counterparts that a merger of the two banks is their “Plan A”, the newspaper continues. When asked on Saturday, UBS and Credit Suisse said they would not comment. The Financial Times writes that there is no guarantee that an agreement will be reached.
The lurching major bank Credit Suisse had recently suffered from a significant loss of investor confidence. The Swiss National Bank (SNB) then made loans of up to CHF 50 billion (almost EUR 51 billion) available to the institute. For the central bank, financial regulators and governments, it is also about preventing a general banking crisis.
