Credit Suisse and UBS under pressure to merge as talks continue.

Credit Suisse is under pressure to merge with Swiss rival UBS as regulators urge the move, but neither bank wants to do so. Credit Suisse is holding meetings over the weekend to assess strategic scenarios for the bank. At least four major banks, including Societe Generale and Deutsche Bank, have put restrictions on their trades involving Credit Suisse or its securities. The Swiss central bank has stepped in to calm the flames, but it might not be sufficient to restore confidence in Credit Suisse. Banking stocks globally have been battered since Silicon Valley Bank collapsed, raising questions about other weaknesses in the financial system.