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Evening Standard
Evening Standard
World
Charlie Duffield

What is Credit Suisse, why is it so significant and who rescued it from collapsing?

Credit Suisse Bank of England Switzerland the Swiss National Bank

UBS will take over its smaller rival Credit Suisse, the Swiss central bank has confirmed, in an effort to avoid further market-shaking turmoil.

The Swiss authorities forced the rescue of Credit Suisse after it suffered a string of high-profile problems in recent years, which led investors to start moving their money out of the Swiss bank.

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