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Swiss banking

Page history last edited by Brian D Butler 15 years, 2 months ago
UBS used a good bank, bad bank structure when the Swiss government stepped in to support the firm in October.
 
UBS sold $60 billion of troubled assets to a special purpose vehicle and injected $6 billion to cover the pool's losses. The Swiss government invested $6 billion for a 9% stake in the firm to help it cover the cost of the deal. The Swiss National Bank also agreed to lend up to $54 billion to help pay for the assets.
 

 

 

 

 

 

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