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Abstract:By John ODonnell FRANKFURT (Reuters) – Swiss authorities are examining imposing losses on Credit Suisse bondholders as part of a rescue of the bank, two sources with knowledge of the matter said on Sunday.
By John ODonnell
FRANKFURT (Reuters) – Swiss authorities are examining imposing losses on Credit Suisse bondholders as part of a rescue of the bank, two sources with knowledge of the matter said on Sunday.
However, European regulators are apprehensive about such a move for fear that it could hit investor confidence elsewhere in Europes financial sector, the sources said, speaking on the condition of anonymity.
A final decision, however, had not been taken and the terms could still change, according to the sources.
Losses on bondholders could need to be larger if Credit Suisse were wound down rather than if it were taken over by UBS, one of the sources said. Authorities are trying to engineer a UBS takeover of Credit Suisse before financial markets reopen on Monday.
FINMA, the Swiss regulator, did not immediately respond to a request for comment. Credit Suisse and UBS declined to comment.
(Reporting by John ODonnell and Chiara Elisei; Writing by Tommy Reggiori Wilkes; Editing by Paritosh Bansal)
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