Troubled bank Credit Suisse has been rescued by its Swiss rival UBS in a govt-backed deal.
The announcement came after a weekend of emergency talks in Switzerland between the two banks and the nation’s monetary regulators.
The Swiss Nationwide Financial institution talked about the deal used to be the exact manner to revive the self belief of monetary markets and to control risks to the economy.
It comes as issues grows over the soundness of the global banking machine.
Jane Hill items BBC Recordsdata at Ten reporting by industry editor Simon Jack.
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