American Banks on Sale

 

To save the sinking banks USA and Europe work continues on a wartime basis. American First Citizen bank proposes to buy the Silicon Valley bank. Now it is managed under the American Federal Deposit Insurance Corp. Partly or fully selling will be decided later. But is is confirmed that the sell will be counting on the bid. On the other hand the, to buy the Credit Suisse bank now another Swiss Bank named UBS now offered $2 billion dollar. If this two banks successfully sold then the world financial crisis will managed partially. 

Credit Suisse is one of the oldest banks of 167years old. It has its name in the list of 30 banks which has lower chance to dissolve. But the situation that Credit Suisse is now undergoing is astonishing the experts. 

On the first phase the UBS offered $1 billion to the Credit Suisse. So that it could buy the Credit Suisse under its share value. But the members of Credit Suisse didn't agree with them. On the defence Credit Suisse stated that it will both cost to the holders and the employees and $1 billion is too less for them. The Swiss Central banks and the Swiss Govt wants to save this bank at any cost. With their help both the bank authorities will discuss about the trade. 

To buy the Credit Suisse, UBS made some strict conditions. It wants the fund guranteer from the Swiss Central bank. As U S is the first and the Credit Suisse is the second largest banks. So the merger might solve such huge financial down going situations.