WRAPUP 2-Credit Suisse takeover, central bank action calm jittery markets ...Middle East

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WRAPUP 2-Credit Suisse takeover, central bank action calm jittery markets
source : Devdiscourse ( Middle East ) () 64
Moves by authorities to avert a global banking crisis lifted market confidence on Monday as investors welcomed a historic Swiss-backed acquisition of troubled Credit Suisse by UBS Group and emergency dollar liquidity from top central banks. In a package orchestrated by Swiss regulators on Sunday, UBS Group AG will pay 3 billion Swiss francs ($3.23 billion) for 167-year-old Credit Suisse Group AG and assume up to $5.4 billion in losses.

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