Switzerland faced a entire-scale bank run if Credit history Suisse went bankrupt, Swiss regulator argues

Switzerland faced a entire-scale bank run if Credit history Suisse went bankrupt, Swiss regulator argues


Key Details
  • Permitting the individual bankruptcy of troubled loan company Credit Suisse would have crippled Switzerland’s economic climate and economical center and likely resulted in deposit runs at other financial institutions, Swiss regulator FINMA explained Wednesday.  
  • FINMA and the Swiss central bank brokered UBS’ takeover for embattled Zurich rival Credit history Suisse for 3 billion Swiss francs ($3.3 billion), in a offer announced on March 19.
  • The bankruptcy system, FINMA CEO Urban Angehrn claimed in a statement, was “de-prioritised early on owing to its large tangible and intangible costs.”



Resource

Stocks making the biggest moves midday: UnitedHealth, Applied Materials, Sandisk and more
Finance

Stocks making the biggest moves midday: UnitedHealth, Applied Materials, Sandisk and more

Check out some of the companies making the biggest moves midday: UnitedHealth — The health insurer rallied 14% after Warren Buffett’s Berkshire Hathaway revealed a stake of five million shares, worth about $1.6 billion. The “Big Short” investor Michael Burry and Appaloosa Management’s David Tepper also disclosed sizable stakes in the company. If the UNH […]

Read More
Fed’s Goolsbee sees ‘note of unease’ as central bank looks to next interest rate move
Finance

Fed’s Goolsbee sees ‘note of unease’ as central bank looks to next interest rate move

Key Points Chicago Fed President Austan Goolsbee said a mixed bag of inflation data coupled with lingering uncertainty over tariffs have given him some hesitation about lowering interest rates. “We’ve got to get some clarity from the numbers,” Goolsbee, an FOMC voter this year, said during a CNBC interview. Source

Read More
Who will Trump pick for Fed chair? Hear from all the candidates in their own words
Finance

Who will Trump pick for Fed chair? Hear from all the candidates in their own words

Key Points President Donald Trump’s short list to replace Jerome Powell as Federal Reserve chair has turned into a long list of nearly a dozen possible candidates. In CNBC interviews that stretch back days, weeks and even months, the candidates have talked in depth about where they think the Fed should go. Source

Read More
Powered by WordPress | WP Magazine by WP Mag Plus