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The ECB Banking Supervision, the Single Resolution Board and the European Banking Authority reiterated that when a bank fails in the euro area, shareholders will incur losses first and fully before bondholders

Euro regulators distance themselves from Swiss approach

Euro area regulators have distanced themselves from the approach taken by Swiss authorities to some holders of Credit Suisse bonds.

Business • 20 Mar 23

Switzerland's reputation as a global financial centre is on the line

Switzerland wakes to new era after historic bank merger

Switzerland awoke to a new era today after UBS swept up Credit Suisse in a government-brokered rescue that dented the country's long-held pride in its banking expertise.

Business • 20 Mar 23

Both Brent and WTI shed more than 10% of their value last week as the banking crisis deepened

Oil prices hit lowest level since 2021 on banking fears

Oil prices dropped to their lowest in 15 months today, driven down by concern that risks in the global banking sector and a potential increase to US interest rates could spark a recession that would sap fuel demand.

Business • 20 Mar 23

The deal will change the landscape of banking in Switzerland, where branches of Credit Suisse and UBS are dotted everywhere

UBS-Credit Suisse deal casts shadow over Switzerland

UBS Group has emerged as Switzerland's one and only global bank with a state-backed rescue of its smaller peer Credit Suisse, a risky bet that makes the Swiss economy more dependent on a single lender.

Business • 20 Mar 23

Shares in Credit Suisse dropped over 60% in Swiss trade today

European stocks close higher as calm returns to markets

European stocks bounced off their earlier lows today as utilities and miners gained, offsetting some losses in bank stocks that were sparked by UBS' shotgun deal to buy Credit Suisse for a fraction of its market value.

Credit Suisse • 20 Mar 23

The Swiss banking marriage is backed by a massive government guarantee

Banking stocks fall despite Credit Suisse deal relief

Banking stocks tumbled this morning as initial relief over a historic state-backed rescue of troubled lender Credit Suisse by Swiss rival UBS Group gave way to new worries about the risks of high-yield debt issued by big banks.

World • 20 Mar 23

The move is to ensure liquidity of US dollars

Central banks in coordinated move to calm markets

The world's five biggest central banks, including the European Central Bank, have agreed to provide additional layers of funding to the financial system as markets brace themselves for any fallout from a deal struck tonight to rescue Credit Suisse.

Business • 19 Mar 23

167-year-old Credit Suisse is the mostly globally significant bank caught in the turmoil spurred by the collapse of US lenders Silicon Valley Bank and Signature Bank

Credit Suisse: How did it get to crisis point?

Credit Suisse Group Chief Financial Officer Dixit Joshi and his team are holding meetings over the weekend to assess strategic scenarios for the embattled Swiss bank as it enters a make-or-break weekend.

World • 19 Mar 23

Swiss regulators had been forced to step in and orchestrate a deal to prevent a crisis of confidence in Credit Suisse spilling over into the broader financial system

UBS seals deal to buy rival Swiss bank Credit Suisse

UBS will take over Credit Suisse, Swiss authorities said, in a deal to combine Switzerland's top two banks designed to contain a widening crisis of confidence in global finance.

Business • 19 Mar 23

UBS is being seen as a potential remedy to the Credit Suisse problem

UBS seeks government guarantees for Credit Suisse deal

UBS AG is seeking government guarantees of about $6 billion (€5.6bn) for a potential takeover of Credit Suisse Group AG, a person with knowledge of the discussions said.

Business • 18 Mar 23

Credit Suisse shares resumed their decline

European shares record worst week in five months

European shares erased their early gains on Friday and logged their steepest weekly drop in five months as supportive measures from regulators across the United States and Europe failed to allay fears over a brewing global banking crisis.

Business • 17 Mar 23

First Republic Bank was rescued yesterday

ECB sees no contagion risk to euro zone banks

European Central Bank supervisors see no contagion for euro zone banks from recent sector turmoil after U.S. lenders threw First Republic Bank a $30 billion lifeline and tapped record amounts from the Federal Reserve.

Business • 17 Mar 23

Credit Suisse shares dropped more than 11% on the Swiss stock exchange

Credit Suisse faces crunch weekend

Credit Suisse executives will hold meetings over the weekend to chart a path forward for the ailing Swiss bank, people familiar with the matter said, after an emergency lifeline only offered temporary relief and its shares took another beating on Friday.

Business • 17 Mar 23

The 167-year-old Credit Suisse's problems have shifted the focus for investors and regulators from the US to Europe

Credit Suisse shares soar after central bank lifeline

Shares of embattled Credit Suisse surged this morning after announcing it would borrow up to $53.7 billion from the Swiss central bank, calming markets following the worst trading day in its history.

Business • 16 Mar 23

Credit Suisse shares nosedived after its main shareholder said it would not provide more funding

Credit Suisse: Scandals and market panic

Credit Suisse shares went into free fall today, as the banking giant battered by a series of scandals, was seen as the "weakest link" in the Swiss banking sector.

World • 15 Mar 23

Brian Hayes of BPFI was speaking as European bank shares fell further today

Irish banking sector 'in good stead into the future'

The level of capitalisation and liquidity in the Irish banking sector is very strong, the chief executive of the Irish Banking and Payments Federation Ireland has said.

Business • 15 Mar 23

The euro, sterling and Swiss franc all fell today on Credit Suisse's troubles

Credit Suisse woes knock euro, sterling, Swiss franc

European currencies fell sharply today after Credit Suisse's tumble to a new low renewed worries about the European banking sector following Silicon Valley Bank's collapse.

Business • 15 Mar 23

Trading in Credit Suisse shares was halted a number of times by the stock exchange operator today

European banks battered as Credit Suisse slumps 30%

European shares had their worst day in over a year as a selloff in bank stocks resumed on renewed investor concerns about stresses within the sector, with Credit Suisse plunging to a fresh record low.

Business • 15 Mar 23

Saudi National Bank holds a 9.88% stake in Credit Suisse

Swiss regulators rush to calm fears over Credit Suisse

Swiss regulators said Credit Suisse can access funds from the central bank if needed, racing to calm fears around the lender after it led a rout in European bank shares today.

Business • 15 Mar 23

The bank's annual report had been delayed after a request from the US SEC, which had raised questions about the bank's earlier financial statements

Credit Suisse flags 'material weaknesses' in reporting

Credit Suisse said in its 2022 annual report the bank has identified "material weaknesses" in internal controls over financial reporting and not yet stemmed customer outflows.

Business • 14 Mar 23

Credit Suisse, Switzerland's second biggest bank, posted a net loss in the fourth quarter of 1.39 billion francs, in line with expectations

Credit Suisse warns of more losses as it falls into red

Credit Suisse has today reported its worst annual loss since the 2008 global financial crisis, hit hard by client withdrawals and warned that a further "substantial" loss would come this year.

Business • 09 Feb 23

The Swiss bank is getting back on track after the biggest crisis in its 166-year history

Credit Suisse raises $2.4 billion in revamp cash call

Credit Suisse has hailed a "milestone" in its turnaround plan after raising 2.24 billion Swiss francs ($2.39 billion) as part of a 4 billion franc cash call.

Business • 09 Dec 22

Credit Suisse shareholders have approved a 4 billion Swiss franc share capital hike intended to fund the embattled Swiss bank's turnaround.

Credit Suisse flags Q4 loss of up to $1.58 billion

Credit Suisse said today it expects to make a pre-tax loss of up to 1.5 billion Swiss francs ($1.58 billion) in its fourth quarter.

Business • 23 Nov 22

The Swiss lender racked up an unexpected 4 billion Swiss franc loss in the third quarter of 2022

Credit Suisse seeks billions from investors in overhaul

Credit Suisse plans to raise 4 billion Swiss francs ($4 billion) from investors, cut thousands of jobs and shift its focus from investment banking towards its rich clients, as the bank attempts to put years of scandals behind it.

Business • 27 Oct 22

Credit Suisse is to pay $495m to settle a case brought against it in the US

Credit Suisse pays $495m to settle legacy case

Credit Suisse has agreed to pay $495m to settle a case brought against it in the US, the latest pay-out related to past blunders that have battered the Swiss bank's reputation.

Business • 17 Oct 22