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UK's FCA says minded to back Swiss moves to support financial stability

FILE PHOTO: FCA signage seen at their head offices in London

LONDON (Reuters) - Britain's Financial Conduct Authority said on Sunday it was minded to approve Swiss bank UBS' takeover of Credit Suisse bank, both of which have operations in London, to support financial stability.

"Earlier today, the Swiss authorities announced a wide range of actions to support financial stability. The FCA has been in contact with its Swiss counterparts and other UK regulatory authorities in advance of today’s announcements," the FCA said in a statement.

"The FCA continues to engage closely with UK and international regulatory partners to monitor market developments," the watchdog said.

(Reporting by Huw Jones; Editing by Hugh Lawson)