Key Points
UBSs chief executive officer will see the banks wealth and asset management invested assets soar to about $5 trillion and got a special waiver to keep Credit Suisses profitable Swiss unit that many analysts said was worth more than triple what UBS paid for the whole firm...
Saudi National Banks investment was stunning in its brevity: the lender lost 1.1 billion francs less than 15 weeks from when it finished buying its stake in Credit Suisses latest capital raise..
While UBS Chairman Colm Kelleher didnt directly address CSFB at a press conference late Sunday, he did indicate that the firm was happy with its own investment bank and planned to cut back Credit Suisses substantially as well as pare back risk...
The Swiss regulator will impose losses on $17 billion of high-risk debt known as Additional Tier 1 bonds that make up part of a buffer of debt and equity intended to prevent taxpayers from having to shoulder the bill for a banks collapse..
The Swiss government had to step in an provide billions of francs in guarantees to UBS and the central bank was forced to provide extensive liquidity backstops to facilitate the rescue, putting taxpayers at risk 15 years after they bailed out UBS..
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