Banking stocks fell again on Friday after a tumultuous week.
After the sudden collapse this month of two U.S. regional banks sparked turmoil in the sector, UBS was rushed into taking over Credit Suisse AGSwiss authorities and UBS arethe takeover within as little as a month, according to two sources with knowledge of the plans, to try to retain Credit Suisse's clients and employees.
Bloomberg News reported that Credit Suisse and UBS are among banks under scrutiny in a U.S. Department of Justice probe into whether financial professionals helped Russian oligarchs evade sanctions. Credit Suisse and UBS declined to comment while the Justice Department did not immediately respond to Reuters' emailed requests for comment.on Thursday where investors were looking to see how far the authorities would go to shore up the sector, particularly fragile regional banks.Americans that the U.S. banking system is safe.
Reporting by Sruthi Shankar in Bengaluru and Reuters bureaus; writing Toby Chopra; editing by Jason Neely
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