UK finance minister, Bank of England governor in contact over Credit rating Suisse: Offer

British finance minister Jeremy Hunt and Bank of England Governor Andrew Bailey are in traditional contact this weekend over the destiny of Credit rating Suisse Community AG, constant with a source with knowledge of the topic.

UBS Community AG is mulling a takeover of its embattled Swiss rival Credit rating Suisse, various sources advised Reuters on Saturday, amid a crisis of self belief within the bank that risks destabilizing the global monetary system.

A spokesperson for the Treasury declined to commentary. A spokesperson for the Bank of England’s Prudential Regulation Authority, which oversees lenders, declined to commentary.

The UK has been a key market for the Swiss lender. Credit rating Suisse’s UK entity, Credit rating Suisse Global, has $60 billion of risk weighted resources, constant with the corporate’s most modern filings.

The bank furthermore has $44.6 billion of risk-weighted resources in its U.S. unit.

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