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Crunch time for Credit Suisse talks as UBS seeks Swiss assurances

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Reuters UK

By Stefania Spezzati, Oliver Hirt and John O’Donnell (Reuters) – Talks over rescuing Credit Suisse rolled into Sunday as UBS AG sought $6 billion from the Swiss government to cover costs if it were to buy its struggling rival, a person with knowledge of the talks said. Authorities are scrambling to resolve a crisis of confidence in the 167-year-old Credit Suisse, the mostly globally significant bank caught in the turmoil spurred by the collapse of U.S. lenders Silicon Valley Bank and Signature Bank over the past week. While regulators want a resolution before markets reopen on Monday, one sour…

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