FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. REUTERS/Arnd Wiegmann/File Photo
“The Swiss big banks Credit Suisse and UBS have slightly improved their capital situation overall, in spite of the moderate deterioration in economic and financial conditions”, the central bank said in its 2019 financial stability report. UBS and Credit Suisse have until the end of 2019 to prepare so-called resolution plans that would prevent taxpayers from having to bail them out in the event of a crisis.
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