Event Publicly Available Information:
If the DC determines that UBS Group AG is the Successor to Credit Suisse Group AG following the merger, please can the DC also determine the impact of the merger on Transactions that reference Credit Suisse Group AG at the subordinated level in particular. What would be the Obligations and Deliverable Obligations under such Transaction?
The Eligible Market Participant who submitted the potential DC question provided the following documents in support of their question:
- Press release: https://www.ubs.com/global/en/investor-relations/press-releases/overview-news-display-ndp/en-20230612-ubs-credit-suisse-acquisition.html
- Credit Suisse Group Finance US Inc: Offering Circular 2007/12/21: http://www.oblible.com/bond-XS0118514446.htm
| Date | Description | Document |
|---|---|---|
| Closed | The EMEA DC has published SRO Identification Resolutions in respect of UBS Group AG at the Senior and Subordinated Levels. Details of the Potential SROs and the relevant challenge periods are available at https://www.cdsdeterminationscommittees.org/cds/emea-sro-resolutions/ | |
| Closed | This DC Question is closed. Market participants should refer to the DC determinations and the EMEA DC Meeting Statement of 17 July 2023 published in respect of DC Issue 2023061201. | |
| Ongoing | EMEA DC Meeting Statement - 10 July 2023 The EMEA DC met today to discuss both DC Questions relating to whether there is a Successor to Credit Suisse Group AG and, if so, any related impact on the SRO list. The EMEA DC agreed to meet again on Tuesday 11 July 2023 to continue discussions. | |
| Ongoing | EMEA DC Meeting Statement - 7 July 2023 The EMEA DC met today to discuss both DC Questions relating to whether there is a Successor to Credit Suisse Group AG and, if so, any related impact on the SRO list. The EMEA DC agreed to meet again on Monday 10 July 2023 to continue discussions. | |
| Ongoing | EMEA DC Meeting Statement - 5 July 2023 The EMEA DC met today to discuss both DC Questions relating to whether there is a Successor to Credit Suisse Group AG and, if so, any related impact on the SRO list. The EMEA DC agreed to meet again on Friday 7 July 2023 to continue discussions. | |
| Ongoing | EMEA DC Meeting Statement - 23 June 2023 The EMEA DC met today to discuss both DC Questions relating to whether there is a Successor to Credit Suisse Group AG and, if so, any related impact on the SRO list. A further update will be provided in due course. | |
| Ongoing | EMEA DC Meeting Statement - 20 June 2023 The EMEA DC met today to discuss both DC Questions relating to whether there is a Successor to Credit Suisse Group AG and, if so, any related impact on the SRO list. The EMEA DC agreed to meet again on Thursday 22 June 2023 to continue discussions. Note: the call to discuss Credit Suisse Group AG was moved to Friday 23 June 2023. | |
| Ongoing | EMEA DC Meeting Statement - 15 June 2023 The EMEA DC met today to discuss both DC Questions relating to whether there is a Successor to Credit Suisse Group AG and, if so, any related impact on the SRO list. The EMEA DC is continuing to consider these DC Questions. | |
| Request Accepted by DC | Note: Credit Suisse is not part of the Convened DC in respect of this DC Question as it abstained under the DC Rules. | |
| Pending DC Consent |