The Bank of England welcomed moves by the Swiss authorities to broker a take-over by UBS (UBS) of Credit Suisse (CS) on Sunday, indicating it would support approval of the deal, and it said the British banking system was well funded, according to Reuters. UBS agreed to buy rival Swiss bank Credit Suisse for $3.23B in stock and assume up to $5.4B in losses in a merger engineered by Swiss authorities. Reference Link
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