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Apex Trader Funding - News

Swiss to hold news conference amid Credit Suisse troubles

Swiss leaders are holding a news conference Sunday night following several media reports that banking giant UBS is believed to be in talks to acquire its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking. The Federal Council, the seven-member governing body that includes Swiss President Alain Berset, is expected to announce that UBS is acquiring Credit Suisse in a potential deal brokered by the Swiss government. Credit Suisse is designated by the Financial Stability Board, an international body that monitors the global financial system, as one of the world’s globally systemic important banks.