US Federal Reserve Board fines UBS $268.5 million over Credit Suisse misconduct related to Archegos default
UBS has been fined $268.5 million by the US Federal Reserve Board due to Credit Suisse's misconduct in 2021. UBS acquired Credit Suisse in March 2023, and the misconduct involved Credit Suisse's unsafe counterparty credit risk management practices with Archegos Capital.
Credit Suisse Partners With Swiss Football Association To Launch Ethereum-Based NFT Collection Supporting Women’s Football in Switzerland
July 4 (Cointime) - Credit Suisse has teamed up with the Swiss Football Association to launch an NFT collection on the Ethereum blockchain to support women's football in Switzerland.
Tens of Thousands of Credit Suisse Staffers Are About To Find Out if They Still Have a Job
June 28 (Cointime) -Credit Suisse will cut more than 20,000 jobs after being bought by UBS. Among them, New York bankers and traders are most likely to lose their jobs. This is another round of mass layoffs following Goldman Sachs, Morgan Stanley, JPMorgan Chase and others. Credit Suisse already cut some jobs in the first quarter of this year, but the bank still needs to cut costs further as clients withdraw funds and an expected slowdown in the U.S. economy. The layoffs, which will start in July and run through October, are aimed at reducing the combined UBS-Credit Suisse workforce by 30% or 35,000 people.
Swiss Central Bank Promises Regulation Review After Collapse of Credit Suisse
The Swiss National Bank on Friday pledged to review banking regulations during its annual general meeting in Bern, following recent turmoil involving Credit Suisse.
Federal Reserve Backs UBS Purchase of Credit Suisse US Units
The Federal Reserve on Friday approved UBS Group AG’s takeover of the US subsidiaries of Credit Suisse Group AG.
Credit Suisse Australia Head Ristevski Returns to Macquarie
Credit Suisse Group AG’s head of investment banking and capital markets for Australia has departed the firm to rejoin Macquarie Group Ltd.
Swiss Finance Minister Sees No ‘Stumbling Blocks’ to UBS Takeover of Credit Suisse
UBS's UBSG.S multi-billion state-sponsored takeover of Credit Suisse CSGN.S should proceed smoothly without political obstructions, Swiss Finance Minister Karin Keller-Sutter said in an interview published on Saturday.
Commerzbank Chairman Says Credit Suisse Deal Opens Opportunities
UBS Group AG’s takeover of Credit Suisse Group AG creates new business opportunities for other banks in Switzerland, according to Commerzbank AG supervisory board chairman Helmut Gottschalk.
UBS-Credit Suisse Deal ‘Clear Step Toward Stability,’ Staub Says
Swiss regulators that engineered the marriage of UBS Group AG and Credit Suisse Group AG succeeded in stabilizing the nation’s financial system, Vontobel Holding AG Chief Executive Officer Zeno Staub said.
How Many Bank Failures Will It Take for You to Consider Bitcoin?
The argument for owning Bitcoin strengthens as people worldwide watch major banks collapse. This may be a perfect time if you haven’t diversified into Bitcoin.
