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2023-04-03 Economy
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UBS takeover of Credit Suisse under investigation in Switzerland
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Direct Translation via Google Translate. Edited.
[REGNUM] Swiss prosecutors launch investigation into UBS takeover of Credit Suisse
The Swiss Attorney General's Office has launched an investigation into possible violations committed during the takeover of Credit Suisse by UBS. It is reported by RIA Novosti with reference to the press service of the department.
"The Swiss Attorney General's Office has taken note of the media coverage of the events of the past few days related to Credit Suisse and has assessed the situation with all the internal departments involved," the press service said.
It is noted that the department has established contacts with national and cantonal authorities, and also issued orders to conduct an investigation.
The press service added that the Prosecutor General's Office has created a monitoring system to take immediate action in the event of circumstances related to its field of activity.
As REGNUM reported , the assistance to the UBS bank from the Swiss government will amount to $118 billion. The money was allocated to buy out the Credit Suisse bank, which will be absorbed after it has found itself in a crisis situation. The decision was made at a council meeting on March 29. The money will be transferred to UBS in two credits.
Credit Suisse was founded in 1856. The bank, which operates in 50 countries, employs about 48 thousand people. According to the Swiss Central Bank, UBS will acquire Credit Suisse for 3 billion francs ($3.2 billion).
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Posted by badanov 2023-04-03 00:00||
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Posted by Super Hose 2023-04-03 07:49||
2023-04-03 07:49||
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Posted by ed in texas 2023-04-03 09:46||
2023-04-03 09:46||
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