The takeover is not expected to have an impact on the stability of Singapore’s banking system: MAS

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MAS: Credit Suisse to continue operating without interruption in Singapore following UBS rescueSINGAPORE – The UBS takeover of Credit Suisse is not expected to have an impact on the stability of Singapore’s banking system, with the latter to continue operating in Singapore without interruptions and its customers having access to their accounts, the Monetary Authority of Singapore (MAS) said on Monday. The central bank added in its statement that Credit Suisse’s contracts...
Source: asiaonecom - 🏆 10. / 59 Read more »

UBS seals Credit Suisse takeover in bid to calm market nerves:UBS sealed a deal to buy rival Swiss bank Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss authorities said on Sunday.The Swiss central bank will supply substantial liquidity to the merged bank, it said at a news conference in the Swiss capital, Bern. It said the de
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »