On 14 April 2023, Fed issued approval of Credit Suisse takeover in the US.
- Fed approved UBS Group AG to acquire the US subsidiaries of Credit Suisse Group AG.
- Follows March 2023 approved UBS takeover of Credit Suisse in Switzerland.
Implementation
- UBS has committed to provide Fed with implementation plan, to be updated quarterly.
- Will address UBS obligation to comply with stringent enhanced prudential standards.
