ECB ready to help banks after €3bn rescue of Credit Suisse

  • 📰 IrishTimes
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 98%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

Governments hope for calm when markets open after rival UBS agrees takeover of beleaguered lender

Normal requirements for shareholder approval of any such transaction will be waived by the Swiss federal council – the executive arm of government – under an emergency ordnance to ensure the swift closing of the transaction.

Investors have been concerned about the impact of Credit Suisse's debacle on euro zone banks despite the ECB's repeated reassurance that lenders in the 20 countries that share the euro are solid. Ms Lagarde repeated that euro zone banks were “resilient, with strong capital and liquidity positions” but said the central bank was ready to step in if necessary.

Ms Lagarde welcomed “the swift action and the decisions taken by the Swiss authorities”, which orchestrated Credit Suisse’s takeover by rival UBS.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nothing to worry about imf not coming into our country ring a bell tanaiste still doesn't believe they came either still apperantly

Switzerland is not in Europe

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Credit Suisse, UBS and regulators in rush to seal historic mergerUBS and regulators rush to seal Credit Suisse takeover via IrishTimesBiz
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

UBS buys troubled Credit Suisse bank for over $2 billionThe event came after a day of talks at the finance ministry on the future of Credit Suisse and a rejected offer from UBS of $1 billion.
Source: thejournal_ie - 🏆 32. / 50 Read more »