LONDON, March 18- According to a person familiar with the situation, British Finance Minister Jeremy Hunt and Bank of England Governor Andrew Bailey are in continuous touch this weekend over the destiny of Credit Suisse Group AG (CSGN.S).
Several sources told that UBS Group AG (UBSG.S) is considering a takeover of its beleaguered Swiss competitor Credit Suisse, amid a crisis of trust in the bank that threatens to destabilise the global financial system.
A Treasury representative declined to comment. The Bank of England’s Prudential Regulation Authority, which regulates lenders, declined to comment.
The United Kingdom has been an important market for the Swiss lender. According to the company’s most recent disclosures, Credit Suisse International’s risk-weighted assets total $60 billion.
The bank’s risk-weighted assets in the United States are $44.6 billion.
English