Switzerland approves 109 bln francs in guarantees for SNB and UBS

Switzerland's government on Wednesday officially approved a total of 109 billion Swiss francs ($118 billion) in guarantees related to UBS's takeover of Credit Suisse. ($1 = 0.9199 Swiss francs)

Switzerland's government on Wednesday officially approved a total of 109 billion Swiss francs ($118 billion) in guarantees related to UBS's takeover of Credit Suisse. "The Federal Council adopted the special dispatch on the two urgent guarantee credits for the Swiss National Bank (SNB) and UBS during its meeting on 29 March 2023," it said in a statement.

Parliament is scheduled to examine the special dispatch during an extraordinary session in April. ($1 = 0.9199 Swiss francs)