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December 3, 2008 3:33:58 PM CST

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Swiss National Bank

Swiss National Bank news stories

4 Stories

 Swiss Offer UBS $60B Bailout 

Troubled banking giant will get capital injection, offload bad debts

Daily Telegraph (UK) Daily Telegraph (UK) Oct 16, 08 6:46 AM CDT
(Newser) - Switzerland became the latest nation to shore up struggling banks, reports the Telegraph , as it bailed out UBS to the tune of $60 billion today. The Swiss central bank will offer UBS a capital injection of $6 billion in exchange for 9% of the company, and it will allow UBS to offload billions in illiquid assets into a specially created fund. Another top Swiss bank, Credit Suisse, also received a lifeline after raising $10 billion from Mideast investors. More »

More about:  Financial Crisis • bailout • mortgage backed securities • Switzerland • UBS • Credit Suisse • Swiss National Bank

UPDATED

 Central Banks 
 Throw $360B Lifeline 

Effects of worldwide effort on markets still unfolding

New York Times New York Times Sep 18, 08 4:34 AM CDT
(Newser) - The Fed has joined forces with central banks in Europe, Japan and Canada to pump more dollars into the global financial system in a bid to fend off economic catastrophe, Bloomberg reports. The funds—$180 billion from the Federal Reserve and nearly as much from the other banks—are being made available for auction to global money markets in an effort to ease the crisis created by the collapse of Lehman Brothers and deepening fears about the economy, reports the New York Times . More »

More about:  Financial Crisis • Federal Reserve • US dollar • European Central Bank • central bank • Bank of Japan • Swiss National Bank

European
Banks Loosen Purse Strings

Inject billions into markets; offer more
to keep crisis at bay

New York Times New York Times Sep 15, 08 10:02 AM CDT
(Newser) - The weekend’s storm on Wall Street has prompted Europe’s central bankers to make billions of dollars available on the cheap to global money markets as a levee against a rising flood of fresh turmoil, the New York Times reports. The European Central Bank has pledged $43 billion and the Bank of England $9 billion to help stabilize markets. More »

More about:  Financial Crisis • Lehman Brothers • Merrill Lynch • European Central Bank • Bank of England • Swiss National Bank

Fed Pours $200B Into Global Credit Relief Push

Central banks around the world try to ease liquidity problem

Associated Press Associated Press Mar 11, 08 10:15 AM CDT
(Newser) - The Fed will inject huge quantities of cash into financial markets as part of a coordinated global attack on the credit crisis, Ben Bernanke announced today. The central bank will loan out another $200 billion, this time on a 28-day basis rather than overnight, the AP reports. The effort will coordinate with the European Central Bank and the central banks of Canada, England, and Switzerland. More »

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