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Credit Suisse intervention avoided 'financial crisis,' Swiss National Bank chairman says - TL;DR CNBC

Credit Suisse intervention avoided 'financial crisis,' Swiss National Bank chairman says

Publishing timestamp: 2023-11-02 01:56:53


Summary

The Swiss National Bank injected 168 billion Swiss francs in emergency liquidity to support Credit Suisse after a collapse in confidence and massive customer outflows. This intervention helped avoid a financial crisis and facilitated Credit Suisse's emergency sale to UBS. However, there were criticisms and legal challenges regarding the handling of the takeover.


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Tickers: UBSG-CH0R3T-GB

Keywords: ubs group agbusiness newsbankscentral banking

Source: https://www.cnbc.com/2023/11/01/snb-says-credit-suisse-intervention-avoided-financial-crisis.html


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