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Credit Suisse UBS Merger Confirmed: FT

source-logo  coingape.com 18 March 2023 15:39, UTC

A historic merger deal between Credit Suisse and UBS Group is all set to be finalized as soon as Saturday evening, latest reports confirmed. It is said that the Swiss National Bank, Switzerland’s central bank and regulator Swiss Financial Market Supervisory Authority FINMA believe this merger as the only choice to prevent a Credit Suisse collapse. This could make a massive banking entity with the merger of the two largest Switzerland banks. The banking crisis, which began with the collapse of the Silicon Valley Bank, has been a positive event for the crypto market.

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