UBS is negotiating the purchase, in whole or in part, of the capital of Credit Suisse, reported the Financial Timespredicting negotiations this weekend between the boards of directors of the two largest Swiss financial institutions.
The negotiations are being led by the Swiss National Bank and the Swiss financial market regulator, FINMA, according to sources cited by the London newspaper.
The deal, according to the same sources, could cover part or all of the capital of Credit Suisse, which this Thursday became the first large-scale bank worldwide to receive emergency public aid since the 2008 financial crisis.
This help came after the main shareholder, the National Bank of Saudi Arabia, announced that it would end investments in Credit Suisse, the second largest bank in the country and one of the 20 largest banking institutions in Europe.
This week, the Saudi National Bank’s decision prompted the Swiss National Bank to step in to help.
The announcement by the main shareholder of Credit Suisse affected the quotation of the Swiss institution on the stock exchange.
But this period of turbulence in the banking sector began earlier, with the collapse of the Silicon Valley Bank (SVB) in the United States, after which there was a sharp drop in the stock market on Wednesday by Credit Suisse.
