Credit Suisse UBS Merger Confirmed: FT

A historic merger deal between Credit Suisse and UBS Group is all set to be finalized as soon as Saturday evening, latest reports confirmed. It is said that the Swiss National Bank, Switzerland’s central bank and regulator Swiss Financial Market Supervisory Authority FINMA believe this merger as the only choice to prevent a Credit Suisse collapse. This could make a massive banking entity with the merger of the two largest Switzerland banks. The banking crisis, which began with the collapse of the Silicon Valley Bank, has been a positive event for the crypto market.

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Credit Suisse UBS Merger

According to latest report from Financial Times, the boards of the two banks will be meeting over the weekend. Hence, the deal will be accordingly designed as per the needs of regulation in US, the UK and Switzerland. While UBS has $1.1 trillion of assets, Credit Suisse has total assets of $575 billion.

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Reach out to him at [email protected]

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