WASHINGTON, March 20 — The US Fed chairman and Treasury secretary welcomed Sunday’s news that UBS will acquire its troubled Swiss rival Credit Suisse. “We welcome the...
WASHINGTON, March 20 — The US Fed chairman and Treasury secretary welcomed Sunday’s news that UBS will acquire its troubled Swiss rival Credit Suisse.
“We welcome the announcements by the Swiss authorities today to support financial stability,” Fed chair Jerome Powell and Treasury Secretary Janet Yellen said in a joint statement after the takeover announced by the Swiss president as markets around the world fret over the banking sector. “The capital and liquidity positions of the US banking system are strong, and the US financial system is resilient,” the statement said.
It added, “We have been in close contact with our international counterparts to support their implementation.” Credit Suisse announced earlier that, following intense talks in Bern, UBS would take it over for “a merger consideration of three billion Swiss francs,” or about US$3.24 billion . — AFP
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sources: UBS mulls takeover of Credit Suisse with possible Swiss govt guaranteesFRANKFURT, March 18 — UBS is examining a takeover of Credit Suisse that could see the Swiss government offer a guarantee against the risks involved, said two people with...
Read more »
US dollar skids amid declining treasury yields, weak dataNEW YORK: The US dollar fell broadly against its major rivals in late trading on Friday. The dollar index, which measures the greenback against six ma...
Read more »
Crunch time for Credit Suisse talks as UBS seeks Swiss assurancesZURICH, March 19 — Talks over rescuing Credit Suisse rolled into Sunday as UBS AG sought US$6 billion (RM26.9 billion) from the Swiss government to cover costs if it were to buy...
Read more »
Ringgit to trade with upward bias versus US dollar ahead of Fed decisionKUALA LUMPUR, March 18 — The ringgit is expected to trade in cautious mode with an upward bias against the US dollar next week ahead of a decision by the United States Federal...
Read more »
Ringgit to trend upward against greenback ahead of Fed decision | The Malaysian InsightLocal note expected to trade cautiously as more interest rate hikes expected.
Read more »
US Fed to balance banking woes, inflation in next rate decisionWASHINGTON, March 19 — US central bankers face an unenviable task when they gather in Washington next week: tackling persistent inflation without adding to financial sector...
Read more »