A sign of Credit Suisse bank is seen behind a sign of Swiss banking UBS, in Zurich on March 18, 2023. Switzerland's largest bank, UBS, is in talks to buy all or part of Credit Suisse, according to a report by the Financial Times. Credit Suisse -- Switzerland's second-biggest bank -- came under pressure this week as the failure of two US regional lenders rocked the sector.
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Will UBS move stave off panic? Economy reporter weighs in
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New York Times Federal Reserve and economy reporter Jeanna Smialek says that UBS buying its rival Credit Suisse in an attempt to the ease fallout resulting from the failure of two American banks should be a comfort for markets in Asia and Europe.
01:32 - Source: CNN
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A sign of Credit Suisse bank is seen behind a sign of Swiss banking UBS, in Zurich on March 18, 2023. Switzerland's largest bank, UBS, is in talks to buy all or part of Credit Suisse, according to a report by the Financial Times. Credit Suisse -- Switzerland's second-biggest bank -- came under pressure this week as the failure of two US regional lenders rocked the sector.
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Will UBS move stave off panic? Economy reporter weighs in
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Sheets of USD 20 bills roll through the printing press on July 12, 2012, at the US Bureau of Engraving (BEP) in Washington, DC, where the high-tech presses run 24-hours a day. The BEP is a government agency within the United States Department of the Treasury that designs and produces a variety of security products for the United States government, most notable of which is paper currency for the Federal Reserve. The BEP had its foundations in 1862 with workers signing, separating, and trimming sheets of Demand Notes in the Treasury building. With production facilities in Washington, DC, and in Fort Worth, Texas, during Fiscal Year (FY) 2011, the BEP produced approximately 23.5 million notes a day with a face value of approximately USD USD 453 million. During Fiscal Year (FY) 2011, approximately 5.8 billion notes were delivered at an average cost of 9.1 cents per note. Ninety-five percent of the notes printed each year are used to replace notes already in, or taken out of circulation. Between the Fort Worth and Washington facilities approximately 8.5 tons of ink per day were used during FY 2011. AFP PHOTO / Paul J. RICHARDS (Photo by Paul J. RICHARDS / AFP) (Photo by PAUL J. RICHARDS/AFP via Getty Images)
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