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Switzerland Gives $10B Loss Guarantee to UBS for Credit Suisse Takeover

The Swiss government has sealed a deal with UBS to cover up to CHF 9 billion ($10 billion) in losses that might be incurred by the global lender due to its liquidation of rival Credit Suisse’s assets. The government had brokered UBS’ emergency acquisition of Credit Suisse for CHF 3 billion earlier in March to prevent a Swiss banking and economic crisis. At the time, the federal government assured it was ready to shoulder a portion of any losses incurred from the sale of the troubled lender’s ass... Read More

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Switzerland

Gives

10b

Loss

Guarantee

Credit

Suisse

Takeover

Forex

Posted: Jun 9 2023, 16:20

Author Name: financemagnates

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