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Today: March 30, 2025
Today: March 30, 2025
Noele Illien

Noele Illien

Staff Writer

Latest From Noele Illien

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UBS ends state guarantee granted over Credit Suisse rescue

UBS won’t need the government guarantee it secured to rescue failing rival Credit Suisse and has repaid billions of Swiss francs in emergency loans, freeing it of taxpayer-backed funding, Switzerland’s biggest bank said on Friday. The Swiss government provided 9 billion francs ($10.3 billion) of loss protection guarantees to UBS as part of the state-sponsored takeover of Credit Suisse earlier this year. UBS also said it no longer needed a public liquidity backstop or a liquidity assistance loan of up to 100 billion francs from the Swiss National Bank (SNB) and backed by a federal

UBS ends state guarantee granted over Credit Suisse rescue
Uncategorized

UBS ends state guarantee granted over Credit Suisse rescue

UBS won’t need the government guarantee it secured to rescue failing rival Credit Suisse and has repaid billions of Swiss francs in emergency loans, freeing it of taxpayer-backed funding, Switzerland’s biggest bank said on Friday. The Swiss government provided 9 billion francs ($10.3 billion) of loss protection guarantees to UBS as part of the state-sponsored takeover of Credit Suisse earlier this year. UBS also said it no longer needed a public liquidity backstop or a liquidity assistance loan of up to 100 billion francs from the Swiss National Bank (SNB) and backed by a federal

UBS ends state guarantee granted over Credit Suisse rescue
Uncategorized

UBS ends taxpayer backstop granted for Credit Suisse rescue

– Swiss taxpayers are no longer on the hook over the rescue of Credit Suisse after UBS said on Friday it would not need the 9 billion francs ($10.3 billion) of state guarantees provided to smooth the takeover of its failing rival. UBS also said it no longer needed a public liquidity backstop or a liquidity assistance loan of up to 100 billion francs from the Swiss National Bank (SNB) and backed by a federal guarantee, freeing it of taxpayer-backed funding. “These measures, which were created under emergency law to preserve financial stability, will thus

UBS ends taxpayer backstop granted for Credit Suisse rescue
Business|Economy|Finance

UBS flags commercial real estate downturn as a top risk

UBS flagged on Thursday the downturn in commercial real estate markets as one of the "top and emerging risks" facing the Swiss bank, as higher borrowing costs and a

UBS flags commercial real estate downturn as a top risk
Business|Economy|Europe|Finance

UBS flags 'serious' concern about new Swiss capital requirements

UBS executives on Wednesday told shareholders that the bank has major concerns about the Swiss government's recently announced plan to hit the country's

UBS flags 'serious' concern about new Swiss capital requirements
Business|Economy|Europe|Finance

UBS shares soar as smashes profit forecast, sticks to share buybacks

UBS stunned investors with a $1.8 billion first-quarter profit on Tuesday, saying it was sticking with share buybacks, easing concerns about Swiss plans to hike

UBS shares soar as smashes profit forecast, sticks to share buybacks
Business|Economy|Finance

UBS splits wealth management role as part of executive reshuffle

UBS said on Thursday it would split its top wealth management role as part of a shake-up of its executive board, creating new responsibilities for two leading

UBS splits wealth management role as part of executive reshuffle
Business|Economy|Finance

UBS shakes up flagship wealth business with new unit, memo says

UBS is shaking up its wealth-management arm, the bank's flagship business, to boost its offerings to ultra-rich clients, the division's new co-leaders

UBS shakes up flagship wealth business with new unit, memo says
Business|Economy|Finance

UBS sets aside $900 million to repay investors in collapsed Greensill funds

UBS will set aside around $900 million to repay investors in Credit Suisse funds that were linked to collapsed supply chain financing firm Greensill Capital,

UBS sets aside $900 million to repay investors in collapsed Greensill funds
Business|Economy|Finance

Foreign banks target Switzerland after UBS takeover of Credit Suisse

As Credit Suisse fades into history following its takeover by UBS last year, global banks are expanding in Switzerland to take advantage of companies

Foreign banks target Switzerland after UBS takeover of Credit Suisse

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