Credit Suisse had been embroiled in a series of scandals before the UBS takeoverSwiss federal prosecutors said Sunday that they had begun investigating the UBS takeover of its embattled banking rival Credit Suisse.
A"surveillance system" has been put in place that will allow them to intervene if necessary, the public ministry said. Credit Suisse shares had tumbled after the collapse of some US regional banks sparked fears of a trans-Atlantic contagion across the sector and a financial meltdown.
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Cloudy outlook for Europe banking stocks after recent SVB and Credit Suisse turmoilA two-week tumult causes uncertainty as the financial sector faces pressure to demonstrate stability and capitalise while contending with 2008-style volatility
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Cloudy outlook for Europe banking stocks after recent SVB and Credit Suisse turmoilA two-week tumult causes uncertainty as the financial sector faces pressure to demonstrate stability and capitalise while contending with 2008-style volatility
Read more »