UBS seeks US$6bil in govt guarantees for Credit Suisse takeover FMTNews FMTBusiness
Swiss regulators are racing to present a solution for Credit Suisse before markets reopen tomorrow.
One of the sources cautioned that the talks to resolve the crisis of confidence in Credit Suisse are encountering significant obstacles, and 10,000 jobs may have to be cut if the two banks combine. US authorities are involved, working with their Swiss counterparts to help broker a deal, Bloomberg News reported, also citing those familiar with the matter.
“However, a more forceful policy response is likely needed to bring some stability,” Karoui said. The bank said the lack of clarity on Credit Suisse’s future will pressure the broader European banking sector.
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