Troubled financial institution Credit score Suisse has been rescued by its Swiss rival UBS in a government-backed deal.
The announcement got here after a weekend of emergency talks in Switzerland between the 2 banks and the nation’s monetary regulators.
The Swiss Nationwide Financial institution stated the deal was one of the best ways to revive the arrogance of monetary markets and to handle dangers to the financial system.
It comes as considerations grows over the steadiness of the worldwide banking system.
Jane Hill presents BBC Information at Ten reporting by enterprise editor Simon Jack.
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