After the collapse of Silicon Valley Bank, markets were anxious, and the prestigious, yet scandal-ridden Credit Suisse looked as if it could be next to fall. But over the span of a single weekend, the Swiss government and Credit Suisse’s crosstown rival, UBS, raced against the clock to avert disaster. The FT’s banking editor Stephen Morris provides a front row look at how the deal came together.
Clips from Bloomberg, CNBC, BBC
For further reading:
How the Swiss ‘trinity’ forced UBS to save Credit Suisse
Credit Suisse: the rise and fall of the bank that built modern Switzerland
Saudi National Bank chair resigns following Credit Suisse comments
And further listening:
Behind the Money’s December 2022 episode, Credit Suisse’s last chance
On Twitter, follow Stephen Morris (@sjhmorris) and Michela Tindera (@mtindera07)