Credit Suisse Fallout

Swiss Lower House Makes Symbolic Vote Against CS Deal Guarantees

WATCH: Swiss parliament’s lower house voted against approving $120 billion in guarantees for UBS’s takeover of Credit Suisse. Nabila Ahmed reports.Source: Bloomberg

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By Claudia Maedler and Bastian Benrath-Wright

April 11, 2023 at 10:32 PM UTC

Updated on

April 12, 2023 at 6:29 AM UTC

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Swiss parliament’s lower house voted against approving 109 billion francs ($120 billion) in government guarantees for UBS Group AG’s takeover of Credit Suisse Group AG — a symbolic show of popular and political discontent with the deal.

In total, 102 lawmakers in the lower house cast their ballot against the motion, 71 were in favor and two abstained in the vote, held just before midnight in the Swiss capital Bern.