London | UBS is asking the Swiss government to cover about $US6 billion ($9 billion) in costs if it were to buy Credit Suisse, a person with knowledge of the talks says, as the two sides race to hammer together a deal to restore confidence in the ailing Swiss bank.

The 167-year-old Credit Suisse is the biggest name ensnared in the turmoil unleashed by the collapse of US lenders Silicon Valley Bank and Signature Bank over the past week, spurring a rout in banking stocks and prompting authorities to rush out extraordinary measures to keep banks afloat.

Reuters