The Bank of England welcomed moves by the Swiss authorities to broker a take-over by UBS of Credit Suisse on Sunday, indicating it would support approval of the deal, and it said the British banking system was well funded.
for 3 billion Swiss francs in stock and assume up to 5 billion francs in losses in a merger engineered by Swiss authorities.
The FCA said it was "minded to approve the actions announced today in relation to the entities which fall under its regulatory and supervisory remit."
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