UK Financial System ‘Safe and Sound,’ Central Bank Says After Credit Suisse Deal

UK Financial System ‘Safe and Sound,’ Central Bank Says After Credit Suisse Deal
A view of the Bank of England in London, on Feb. 2, 2023. Yui Mok/PA Media
Alexander Zhang
Updated:

Britain’s central bank has said the UK financial system remains “safe and sound” as it seeks to calm fears after the Swiss government mediated the merger between the country’s two largest banks to save Credit Suisse from collapse.

Swiss investment banking company UBS announced on Sunday evening it will purchase its rival Credit Suisse in a deal worth more than $3 billion.