Swiss central bank announces plans for wholesale CBDC pilot with ‘real money’: Report

Thomas Jordan, head of the Swiss National Bank, announced the project at a conference in Zurich; bank still feels “prudent” about a retail CBDC, though.

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Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency Payments

The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments. The trial, led by the Bank for International Settlements, aims to establish whether they can simplify transactions and make them cheaper. Reserve Bank of Australia Teams Up With… More

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Swiss regulators consider UBS takeover of Credit Suisse to prevent collapse

Swiss regulators are reportedly considering emergency measures to accelerate the acquisition of Credit Suisse by UBS, Switzerland's largest bank. The Swiss National Bank and the Swiss Financial Market Supervisory Authority believe that the acquisition is the only way to prevent a collapse in confidence in Credit Suisse following a series of financial scandals. (Read More)

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UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal

After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the [...]

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