According to a Tuesday regulatory filing, Credit Suisse Group AG cannot do business until its acquisition by rival UBS Group AG (UBSG.S) is complete.
The document stated that Credit Suisse could not provide a new credit facility or credit line of over 100 million Swiss francs ($113 million) to investment-grade borrowers or 50 million to non-investment-grade borrowers without UBS approval.
Credit Suisse cannot spend over 10 million francs on capital expenditures or sign contracts worth more than 3 million annually.
During the merger, the document also showed that Credit Suisse could not impose “material amendments” to its employee terms and conditions, including salary and pension benefits.
After a March government takeover, UBS is absorbing its largest competition.
As it prepared to rescue its Swiss rival, it laid aside $4 billion for lawsuits and regulatory difficulties.
UBS predicted $34.8 billion in “negative goodwill” from its Credit Suisse acquisition.
