UBS ends loss protection deal agreed with Swiss government for Credit Suisse takeover

Valeria Martinez
clock • 2 min read

UBS has voluntarily terminated the CHF9bn ($10.2bn) loss protection deal agreed with the Swiss government as part of the state-sponsored takeover of Credit Suisse. In a stock exchange notice today (11 August), the bank also said it no longer needs the public liquidity backstop - a liquidity assistance loan of up to CHF100bn from the Swiss National Bank, backed by the Swiss government, reports Investment Week In a separate statement, the Swiss government said: "These measures, which were created under emergency law to preserve financial stability, will thus cease to exist, and the conf...

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