A group of Credit Suisse bondholders has filed a lawsuit against the Swiss government in an effort to obtain compensation for the controversial decision to write down the debt of an Additional Tier 1 (AT1) financial institution.
The media, citing insiders, report that UBS Group AG intends to shut down Credit Suisse accounts with a small value, the number of which currently stands at several thousand.
Sergio Ermotti, Chief Executive Officer of UBS Group AG, said that in this quarter there is a good dynamic of the return of funds that customers withdrew from Credit Suisse before the takeover.
UBS Group AG has outlined the main goals of integration with its former competitor Credit Suisse.
UBS expects to finalize its takeover of Credit Suisse as early as June 12, emerging from this rescue deal as a giant Swiss bank with a balance sheet of $1.6 trillion
A Singapore court has ordered a unit of Credit Suisse Group AG to pay billionaire Bidzina Ivanishvili $926 million.
UBS Group AG expects to make a profit of about $34.8 billion following the emergency takeover of Credit Suisse Group AG.
Asian investors have joined international lawsuits against the Swiss government in connection with its actions to take over Credit Suisse bank.
The media, citing informed sources, report that the head of the Credit Suisse Group AG group of financial institutions in Southeast Asia, Nick Thursby, is joining Deutsche Bank AG.
Thomas Jordan, President of the Swiss National Bank, is convinced that the crisis at Credit Suisse Group AG is evidence of the need to change the rules of regulation to apply the norm on the obligation of financial institutions to have a sufficient amount of available assets at any time.
Credit Suisse has revealed the extent of the bankruptcy of this financial institution.
UBS Group will buy Credit Suisse Group for 3 billion Swiss francs ($3.23 billion) in a historic deal backed by Swiss authorities, as problems in the global banking sector persist
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