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Viewsroom

Credit Suisse rescue sends shockwaves far and wide

Viewsroom

Reuters

News

4.458 Ratings

🗓️ 23 March 2023

⏱️ 18 minutes

🧾️ Download transcript

Summary

The ailing Swiss lender was saved by UBS with a $3 bln takeover. In this Viewsroom podcast, Breakingviews columnists debate why the deal pushes up bank funding costs, how the new mega-lender affects Switzerland’s financial system, and why bank deposits are becoming less reliable. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:07.0

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0:23.3

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0:26.4

Visit Slack.com forward slash meet Slackbot to learn more.

0:30.4

The views expressed on this podcast are those of the participants, not of Roalders News.

0:37.9

This really is a crisis of confidence.

0:43.5

And so that's also why the solution is not the classical too big to fail solution,

0:50.3

but we have decided that this solution between the takeover of Credit Suisse by UBS is more appropriate.

1:02.3

That was Marlene Amstead, chair of the Swiss financial regulator speaking on Sunday after it was announced that UBS would rescue its embattled

1:12.4

arrival Credit Suisse. The consequences of that deal for Switzerland, banks and the debt markets

1:19.0

is the focus of this week's views room. Welcome back to the views room, the podcast from

1:25.1

Reuters breaking views where columnists from around the world

1:27.5

talk about the big stories of the week. I'm your host, Amy Donlin, coming to you from London.

1:34.3

Fred and Swiss has been swallowed up by its country rival UBS. Although some may have assumed

1:40.2

the move was as inevitable as the tides, the fallout has been far from contained.

1:44.8

Switzerland's decision to wipe out the value of a type of bailinable debt known as

1:48.5

Coco's has shaken that market and may mean that banks are forced to pay more in the future.

1:53.4

Here to talk to me about the implications of this situation is Peter Tal Larson,

1:57.6

global head of breaking views, Lisaucca, our European business editor,

2:01.5

and Neil Unmac, who is our debt expert.

...

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