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Swiss Lawmakers Want to Cap UBS Assets Following Credit Suisse Takeover

UBS, the Swiss banking giant that acquired troubled Credit Suisse, could have its assets reduced to a quarter of its holdings if a proposal by a section of lawmakers in Switzerland succeeds, according to a local media outlet.Social Democratic Party (SP) is working on a proposal to cap the combined assets of UBS estimated at 1.5 trillion Swiss francs. The left-wing party says the lender's assets pose considerable risks to the country because the state backed its acquisition of Credit Suisse.UBS P... Read More

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Posted: May 30 2023, 14:29

Author Name: financemagnates

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