
UBS rescues Credit Suisse, but banking shares continue to tumble
Swiss banking giant UBS has bought beleaguered lender Credit Suisse in a rescue deal brokered over the weekend. In a statement, the Swiss National Bank
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Swiss banking giant UBS has bought beleaguered lender Credit Suisse in a rescue deal brokered over the weekend. In a statement, the Swiss National Bank
t looks as though Credit Suisse is likely to be the next casualty in the banking crisis triggered by the collapse of California-headquartered Silicon Valley Bank earlier this week.
Last week, California-headquartered bank SVB (Silicon Valley Bank) announced a US$1.8bn loss due to asset sales in order to meet withdrawal requests. Trading of SVB stock was halted on the morning of Friday 10th March when stocks plummeted by 68%. By Monday, its US business had completely collapsed, in the largest banking failure since the financial crisis of 2008.
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London, England, March 15, 2022 — RiskBusiness Services Limited, the leading provider of governance, risk, audit, compliance, and content SaaS (Software-as-a-Service) solutions, announced today that it
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RiskBusiness is an international Governance, Risk, Audit and Compliance (GRAC) solution provider, with more than 200 financial services firms currently using our SaaS (Software-as-a-Service) solutions globally.