Chief Content & Culture Officer Anthony Cheung delivers the breaking news on UBS and Credit Suisse.
– Intro (00:00)
– The deal structure (0.38)
– Credit Suisse impairment on UK’s Greensill Capital (1:57)
– $5.5bn loss associated with US investment fund Archegos (2:16)
– The slow decline of Credit Suisse share price (2:41)
– Silicon Valley Bank sparks a global banking crisis (4:05)
– Credit Suisse’s annual report identified ‘material weaknesses’ (4:40)
– Saudi National Bank Bank rejects further financial assistance (4:56)
– Swiss authorities offer a lifeline (5:30)
– Powell and Yellen welcome the Swiss authorities’ action (5:49)
– What happens next? (6:34)
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