UBS & Credit Suisse Become Friends!
Recommended for Preparatory Grades
Have you ever heard of banks? They are places where we keep our money safe and can borrow money when we need it. Sometimes, banks can have problems and need help from other banks or the government.
Today we will learn about two big banks in Switzerland, UBS and Credit Suisse, and how they are working together to stay strong.
Key facts
- UBS is a big bank in Switzerland and it is buying Credit Suisse, a smaller bank, to help it stay strong.
- The Swiss government is also helping by providing a loan of $108 billion to UBS and Credit Suisse to make sure they have enough money to keep going.
- Credit Suisse had some problems with its money management and needed help to keep going.
- Thus, UBS and Credit Suisse are working together to make sure that they can keep helping people with their money.
- The Swiss government is also helping to make sure they have enough money to keep going.
- This is important because if banks have problems, it can affect a lot of people’s money.
- By working together, UBS and Credit Suisse are making sure that they can keep helping people and keep the economy strong!
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