The bid for calm came after banking giant UBS’s weekend takeover of its smaller Swiss rival.
But the move, the latest to prevent panic in the global financial system from spreading, had a mixed response.
Shares in Credit Suisse collapsed 60 per cent yesterday, with UBS also down in the wake of the deal backed by the Swiss government.
UBS will also shoulder about £4.4billion of its debts.
The two banks could benefit from more than £230billion in state and central bank support.
This story is from the March 21, 2023 edition of Daily Express.
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This story is from the March 21, 2023 edition of Daily Express.
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