Crunch weekend for crisis-hit Credit Suisse


Troubled Credit Suisse has two days to reassure before the markets open Monday with the spectre of a new turbulent week in global finance looming.

The Zurich-based lender was holding crisis talks this weekend and urgent meetings with Swiss banking and regulatory authorities.

Switzerland’s largest bank, UBS, was reported to be negotiating to buy all or part of Credit Suisse, with the blessing of the Swiss regulatory authorities, according to the Financial Times.

The Swiss National Bank (SNB) “wants the lenders to agree on a simple and straightforward solution before markets open on Monday”, the source said, while acknowledging there was “no guarantee” of a deal.—APP