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  • Credit Suisse-UBS Deal Is Regulators’ ‘Plan A,’ FT Says

    From bnnbloomberg.ca

    A merger of UBS Group AG with Credit Suisse Group AG is “plan A” for Swiss regulators seeking to shore up confidence in the nation’s banking system, the Financial Times reported. The boards of Switzerland’s two biggest banks plan to meet separately this weekend to weigh the idea, the FT said in its report, citing people briefed on the talks whom it didn’t name. The Swiss National Bank and regulator Finma are orchestrating the discussions, the FT said. Representatives of both banks declined to comment. UBS and Credit Suisse are opposed to a forced combination, Bloomberg reported earlier Friday, citing people ... (full story)

On Monday indices will sky rocket only for traders to find out that Swiss wasnt the only problem in the sector.
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First Republic Bank is being "saved" by JP Morgan, Bank of America, Wells Fargo and such big banks, but there's a catch. They made a deal with the Fed and Treasury. Basically, Fed is guaranteeing those deposits, however since they said that 30B$ is reserved, they cannot go above that limit. Because of that, Fed is using big banks to bailout smaller ones, indirectly bailing out smaller banks.

Very nice plan.. also, Fed will continue to raise interest rates until, AND only until one of those "too big to fail" banks like Bank of America actually fail.
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  • Story Stats
  • Posted: Mar 17, 2023 6:55pm
  • Submitted by:
     Newsstand
    Category: Low Impact Breaking News
    Comments: 2  /  Views: 1,215

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