Ubs save Credit Suisse, I applaud Bce from the Fed

Milan — UBS buys Credit Suisse for 3 billion Swiss francs in shares. During a weekend of frenetic meetings at all levels, the two biggest rival Swiss banks reached an agreement last night under the decisive push of the authorities, the central bank and the government. Which have provided their concrete support to the operation, on the one hand providing 100 billion of liquidity to UBS in case it was necessary to cushion the impact of the acquisition, and on the other guaranteeing it 9 billion of potential losses.