Balanced News: UBS buys Credit Suisse for $3.2 billion as regulators look to shore up the global banking system

Swiss regulators worked together with the Swiss National Bank to bring about the combination of Credit Suisse and UBS, with the goal of preserving the value of the bank and limiting the risk of a contagion in the global banking system. The combined bank will have $5 trillion in invested assets and be headquartered in Switzerland.