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UBS Buys Credit Suisse Amid Turmoil, Consumer Fears in Global Banking

HeadlineMar 20, 2023

UBS has agreed to buy smaller rival bank Credit Suisse for $3.2 billion in a bid to stem global financial turmoil following the collapse of two U.S. banks a week and a half ago. The deal was brokered by the Swiss government. The U.S. Federal Reserve, the European Central Bank and others welcomed the news as they sought to reassure investors of the stability of global financial markets.

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