Federal Councillor and chief of the finance federal department Karin Keller-Sutter attends a news conference on Credit Suisse after UBS takeover offer, in Bern, Switzerland, March 19, 2023. REUTERS/Denis Balibousetapped the Swiss National Bank for "a large multi-billion amount" last weekend to secure its liquidity, the country's finance minister Karin Keller-Sutter told Swiss broadcaster SRF on Saturday.
"Last weekend, a large multi-billion amount was withdrawn by Credit Suisse for liquidity protection," Keller-Sutter said. She said this was because customers had again withdrawn money, but also because counterparties were demanding guarantees when they are doing business with the bank. Keller-Sutter said "it is to be assumed" that the figure was above 50 billion Swiss francs , but said the Swiss National Bank had the exact number.
😳😂
So you thought only about “shareholders” and looked away from employees ?
Well, add UBS to it.
Since their bailout out from Swiss National and then the merger with UBS one could hope they will fix their negative returns and increasing debt. However, I think now there will be no accountability for the mistakes made within Credit Suisse and the board.