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People walk by the New York headquarters of Credit Suisse on March 15, 2023 in New York City. After its largest shareholder said it could not provide further support, Credit Suisse shares fell by as much as 30% on Wednesday as global concerns over the stability of major banks continued to spread.
People walk by the New York headquarters of Credit Suisse on March 15, 2023 in New York City.
Tech Insider

Good morning. I'm senior editor, Max Adams, standing in for Phil Rosen. 

It's official: UBS will take over Credit Suisse in a historic deal

The Swiss National Bank made the announcement Sunday, saying that with the takeover, "a solution has been found to secure financial stability and protect the Swiss economy in this exceptional situation."

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jerome powell
Federal Reserve Board Chairman Jerome Powell arrives at his news conference following the closed two-day Federal Open Market Committee meeting in Washington, U.S., May 1, 2019.
Tech Insider

Hi, I'm Matt Turner, the editor in chief of business at Insider. Welcome back to Insider Today: Sunday Edition, a roundup of some of our top stories. 

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UBS is in talks about a merger with Credit Suisse.