NOT SMOOTH Two men sit under a sign of Credit Suisse displayed on a building in Lugano on June 9, 2023. AFP PHOTO NOT SMOOTH Two men sit under a sign of Credit Suisse displayed on a building in Lugano on June 9, 2023. AFP PHOTOThe country's leading bank UBS was forced into a marriage to prevent its rival from going under, but it hasn't waited for Monday to start preparing to absorb Credit Suisse. Credit Suisse risked collapse when its share prices plunged more than 30 percent during trading on March 15, after three US regional lenders folded. The deal includes guarantees for UBS in case there are any nasty surprises in the Credit Suisse cupboards.

Source: Manila Times June 13, 2023 06:40 UTC