Finance Minister Karin Keller-Sutter said ‘it is to be assumed’ that the figure was above 50 billion Swiss francs, but said the Swiss National Bank had the exact number Zurich: Credit Suisse tapped the Swiss National Bank for “a large multi-billion amount” last weekend to secure its liquidity, the country’s finance minister Karin Keller-Sutter told Swiss broadcaster SRF on Saturday. …
Authorities had been scrambling to rescue Credit Suisse before financial markets reopened on Monday. Switzerland’s largest bank, UBS, has agreed to buy Credit Suisse for 3 billion Swiss francs, officials from the banks have said, in a deal designed to contain a widening crisis of confidence in global finance. The agreement, announced late on Sunday, includes 100 billion francs in …
GENEVA — A Swiss region that has billed itself as a hub for high-tech finance said Thursday that it plans to accept cryptocurrencies Bitcoin and Ether for tax payments starting next year. Switzerland’s Zug canton joins its eponymous main city and several Swiss towns in agreeing to take tax payments in cryptocurrency. The canton, which bills itself as home to …
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