Power Breakfast: UBS Seals Deal To Acquire Credit Suisse; Swiss Regulators To Provide $108 Billion Liquidity Assistance
Zee Business Video Team | Updated: March 20, 2023 09:19 AM IST
UBS agreed to buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion). Under the terms of the merger agreement all shareholders of Credit Suisse will receive 1 share in UBS for 22.48 shares in Credit Suisse. Six central banks have announced a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements. The Dow slipped 385 points on Friday and the Russell 2000 fell 2.5%. All eyes on U.S. Fed's policy this week. Billionaire investor Warren Buffett has been having multiple talks with senior officials in President Joe Biden’s administration in recent days as the regional banking crisis unfolds.
