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Switzerland Larges Bank, UBS In Advanced Negotiations To Acquire Its Ailing Rival Credit Suisse

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Switzerland Larges Bank, UBS In Advanced Negotiations To Acquire Its Ailing Rival Credit Suisse

Abduljelil Yekini by Abduljelil Yekini
in Europe
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Switzerland Larges Bank, UBS In Advanced Negotiations To Acquire Its Ailing Rival Credit Suisse

Image Source: CNN

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Following its announcement that it had discovered “substantial weakness” in its financial reporting, Credit Suisse is currently experiencing a crisis of trust, and its shares have dropped significantly recently.

The problem has not been fixed despite a $54 billion (£44.5 billion) bailout from the Swiss National Bank.

Before the markets open again on Monday, regulators are attempting to broker a solution.

The stability of the global financial system has been called into question as a result of the problems at Credit Suisse and the bankruptcy of two smaller US banks over the past two weeks.

One of the roughly 30 banks considered too big to fail due to its significance to the global banking system is Credit Suisse.

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