Just a few short hours ago, Bloomberg reported that UBS and Credit Suisse were both against any merger scenario. Citing sources close to the matter, Bloomberg said UBS would prefer to focus on its own wealth-centric standalone strategy and is reluctant to take on risks related to Credit Suisse. Well since then things haven't gone so well. First, at least four major banks including Societe Generale and Deutsche Bank have placed restrictions on their trades involving Credit Suisse or its securities, Reuters reports, citing five unidentified people with direct knowledge of the matter. Another source at a major global bank, who deals directly with Credit Suisse in Asia, said their bank had started asking the Swiss lender to gross settle, a trading scenario where the counterparty demands upfront payment from Credit Suisse instead of collecting later any money the Swiss lender might owe them as a result of the trade. https://www.zerohedge.com/markets/ubs-reportedly-talks-acquire-credit-suisse