It was the largest bank takeover since the global financial crisis in 2008: Exactly a year ago, the major bank UBS took over its badly troubled competitor Credit Suisse, largely due to government pressure. The rescue operation was carried out virtually overnight and the state provided massive support. Because it was probably only a matter of time before the Swiss bank Credit Suisse collapsed. The institute was in a serious, home-grown crisis. At times, more than ten billion francs flowed out – per day.
Takeover of Credit Suisse by UBS: The dangerous monster from Switzerland – Economy
