Credit Suisse: Are we teetering on the edge of a banking crisis?
This Is Why
Sky News
4.0 • 552 Ratings
🗓️ 21 March 2023
⏱️ 16 minutes
🧾️ Download transcript
Summary
The shotgun merger happened less than a week after the UK financial authorities saved the British arm of Silicon Valley Bank which had collapsed in the US. These troubles either side of the Atlantic have spooked investors - the concern now is other banks could follow.
On the Sky News Daily Sally Lockwood speaks to economics and data editor Ed Conway about what this means for investors and whether we are teetering on the edge of a banking crisis.
Producer: Rosie Gillott
Editor: Philly Beaumont
Transcript
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| 0:00.0 | You know what you're getting with a wedding? |
| 0:03.0 | Wedding hats. |
| 0:05.0 | A baby in a waistcoat crying throughout the vows. |
| 0:09.0 | Themed tables. |
| 0:11.0 | Awkward best man's speech. |
| 0:14.0 | The plus one? |
| 0:16.0 | Hello. |
| 0:17.0 | People dancing in a circle. |
| 0:20.0 | Ruin rental suit. |
| 0:22.5 | Sometimes in life you just know what you're getting. |
| 0:24.8 | Like a luxury bed and a great night's sleep. |
| 0:28.0 | You know what you're getting with Premier Inn. |
| 0:30.3 | For unlimited all-day travel in London, think TFL. |
| 0:33.8 | With the daily cap fair frozen until March 2027, travel as much as you like on tube, bus, Elizabeth Line, DLR and Overground, knowing you'll never pay any more than £8.90 in Zones 1 and 2. |
| 0:48.3 | Download TFL Go to plan your journey. To the Mayor of London and TFL, every journey matters. |
| 0:55.2 | Always use the same card of device when touching in and out for full terms and conditions such TFL fare capping. |
| 1:00.8 | The liquidity outflows and market volatility showed that it was no longer possible to restore |
| 1:08.4 | the necessary confidence and that a swift and stabilising solution |
| 1:13.1 | was absolutely necessary. |
| 1:16.9 | That's the Swiss President, Alain Berser, announcing that one of the country's biggest banks |
| 1:22.2 | credits Swiss is to be swallowed up by its rival bank, UBS, for a billion dollars. |
| 1:29.7 | Now, this shotgun merger happened less than a week after UK financial authorities |
... |
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