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UBS seeks $6 billion in govt guarantees for Credit Suisse takeover -source

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Reuters UK

By Stefania Spezzati, Oliver Hirt and John O’Donnell (Reuters) -UBS AG is asking the Swiss government to cover about $6 billion in costs if it were to buy Credit Suisse, a person with knowledge of the talks said, as the two sides raced to hammer together a deal to restore confidence in the ailing Swiss bank. The 167-year-old Credit Suisse is the biggest name ensnared in the turmoil unleashed by the collapse of U.S. lenders Silicon Valley Bank and Signature Bank over the past week, spurring a rout in banking stocks and prompting authorities to rush out extraordinary measures to keep banks afloa…

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