Credit Suisse is saved – how the deal worked, what it costs and what’s next – banks

The badly hit Swiss bank Credit Suisse is being taken over by its larger local rival UBS. This was announced by the Swiss Federal Council and representatives of the two institutes and the supervisory authorities on Sunday evening. The Swiss National Bank (SNB) is supporting the takeover with liquidity assistance of CHF 100 billion (around EUR 101 billion) to both banks. Is the banking crisis over with? What you need to know now.