Sat. Oct 12th, 2024

April 14, 2023, 4:00 p.m. EDT

The Federal Reserve Board on Friday announced its approval for UBS Group AG, of Zürich, Switzerland, to acquire the U.S. subsidiaries of Credit Suisse Group AG, of Zürich, Switzerland.

The application was submitted in connection with UBS Group AG’s acquisition of Credit Suisse Group AG. In connection with the proposal, UBS has committed to provide the Board with an implementation plan for combining the U.S. business and operations of UBS and Credit Suisse, which will be updated quarterly. The implementation plan will address UBS’s obligations to comply with more stringent enhanced prudential standards, including liquidity standards.

Related Content

Forward to your friends