US Authorities Engaged on Possible Credit Suisse-UBS Deal

Bloomberg2023-03-19

Swiss government has been working to broker deal between firmsAny deal announcement could come as soon as this weekendUS authorities are working with their Swiss counterparts as they seek to hammer ...

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American officials may seek to weigh in on matters that could impact final terms of any deal, said one of the people, who asked not to be identified discussing the confidential conversations.Representatives for the Federal Reserve and Treasury Department declined to comment.The time scale for agreement is fluid. The goal is for an announcement of a deal between the two banks by Sunday evening at the latest, according to a person familiar with the matter, who also asked not to be identified discussing the talks. The Financial Times reported that a deal could emerge as soon as Saturday evening.As the drama plays out in Europe, US officials are dealing with their own banking crisis at home following the collapse of three mid-sized lenders this month. 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