“US regulators were in touch with Swiss counterparts on UBS-Credit Suisse deal,” said an anonymous US Official during Sunday per Reuters.
US bank deposits have stabilized, with outflows either slowing, stopping or in some cases reversing.
US banks have limited exposure to credit suisse after reducing exposure in recent months.
The news fails to improve market’s mood, even if the traders begin the key week on a firmer footing after weekend news of the UBS-Credit Suisse deal. The reason could be linked to Reuters’ headlines suggesting more banking fallouts in Europe.
Also read: UBS to take over Credit Suisse