UBS’s $10 bln state guarantee is a useful fantasy

📆 6/7/2023 1:23 PM
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UBS and the Swiss government have negotiated a state backstop that neither side wants to use. It could nonetheless prove extremely useful for the bank’s CEO Sergio Ermotti, who needs all the capital help he can get, writes LiamWardProud

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UBS sees agreement on Credit Suisse loss guarantee by June 7 - SEC filingUBS expects to finalize its agreement with the Swiss government to cover up to 9 billion Swiss francs ($9.92 billion) in losses from its emergency takeover of Credit Suisse by June 7, the Swiss bank said in a regulatory filing published on Tuesday.
Source: Reuters - 🏆 2. / 97 Read more »