The Zurich-based bank reported $29 billion in net and pre-tax profit in the second quarter, its first earnings release since the government-orchestrated merger
The rescue packages for Silicon Valley Bank, Signature Bank and First Republic have been marked by a careful balance between state and private intervention
The country’s parliament is discussing accountability for long-troubled Credit Suisse, state emergency funds for the merger with UBS and what it will mean to have one giant bank
At the Swiss bank’s annual shareholders meeting, the UBS chairman said the $3.25 billion takeover would close in the next few months but fully integrating the two institutions is expected to take three to four years
The public push is part of a larger effort by the Biden administration to safeguard the U.S. economy and ensure that individual bank failures can be contained without triggering a chain reaction across the wider financial system
The Senate Finance Committee on Wednesday released a two-year investigation that detailed the role employees at the embattled Swiss bank had in aiding tax evasion by clients
Experts say it’s probably a good idea for small businesses to diversify funds and make sure they’re in close contact with their banker, but emphasized that in the short term their bank accounts are safe
Cases such as those of Silicon Valley Bank and Credit Suisse show how the sector is facing new risks, such as the speed of fund outflows or the viral spread of bad news and rumors
European Union leaders are playing down the risk of a banking crisis developing from recent global financial turmoil and hitting an already weak economy
The upheaval in the financial system that’s followed the collapse of two major U.S. banks is raising the likelihood that lending standards will become sharply more restrictive
Investors who held bonds known as CoCos were wiped out in the sale to UBS, triggering fears that banks will find it harder to borrow and in turn tighten credit
After sticking to its half-a-point interest rate hike, the ECB has left further rises up in the air in case the banking turmoil persists or deepens. This is exactly the message that the markets needed