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Comment: Fight looms over who pays in bank crises after $17 billion Credit Suisse writedown

By Fiona Maxwell ( March 20, 2023, 11:44 GMT | Comment) -- Credit Suisse shareholders have been spared the pain in comparison to bondholders in the bank's rush weekend takeover by UBS. The surprise move, which saw $17 billion worth of bonds being completely written down, will spark debate, in Europe particularly, on the hierarchy of claims process when a bank runs into trouble.A fight over who pays when a bank falls into difficulty is likely to ensue after Credit Suisse’s takeover by UBS resulted in a surprise writedown of $17 billion for bondholders....

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