FINSOC Weekly Wraps Vol. 29

Mar 21, 2023 Weekly Wraps

UBS offers to bail out Credit Suisse amidst global financial turmoil
Swiss banking giant UBS has agreed to purchase Credit Suisse in an all-share deal valued at $4.8 billion.
The acquisition includes government guarantees and liquidity provisions as well.
It has been agreed that the Swiss National Bank will be offering UBS liquidity assistance of 100 billion francs while the government will guarantee potential losses of 9 billion francs.