UBS Examines Takeover of Credit Suisse Amid Market Turmoil and Regulatory Pressure

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According to insiders, UBS AG was exploring the possibility of taking over Credit Suisse, which has been hit hard by recent market turmoil.

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Credit Suisse, which is 167 years old, is the largest lender to be caught up in the market chaos triggered by the collapse of Silicon Valley Bank and Signature Bank in the US over the past week.

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To quell concerns of a broader banking crisis, UBS has been urged by Swiss regulators to consider taking over Credit Suisse.

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Under the plan being discussed, Credit Suisse’s Swiss business could be spun off.

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Credit Suisse’s share price has fluctuated wildly this week, leading it to tap $54 billion in central bank funding. By Friday, the bank had lost 25% of its market value.

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Its vulnerability has caused at least four of its major rivals to restrict trades involving Credit Suisse or its securities.

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Credit Suisse is among the world’s largest wealth managers and is considered one of 30 globally systemically important banks.

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Its failure could cause ripples throughout the entire financial system.

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