Depositors protected, shareholders cop huge losses, bondholders wiped out, in UBS takeover of Credit Suisse
ZURICH, Switzerland - Depositors will be fully protected, shareholders will have their equity dwarfed, while bond holders will be largely wiped out by the bail-in of Credit Suisse by Switzerland's largest bank, UBS.
Credit Suisse was founded 167 years go in 1856 by industrialist Alfred Escher.
UBS on Sunday, at the urging of the Swiss federal governm