Swiss gov't providing a 9 billion franc loss guarantee
To enable UBS to take over Credit Suisse, Switzerland's federal government said it is providing a loss guarantee of a maximum of 9 billion francs ($9.70 billion) for a clearly defined part of the portfolio. This will be activated if losses are actually incurred on this portfolio.
![Swiss gov't providing a 9 billion franc loss guarantee](https://devdiscourse.blob.core.windows.net/imagegallery/27_06_2019_18_33_56_2660097.png)
To enable UBS to take over Credit Suisse, Switzerland's federal government said it is providing a loss guarantee of a maximum of 9 billion francs ($9.70 billion) for a clearly defined part of the portfolio.
This will be activated if losses are actually incurred on this portfolio. In that eventuality, UBS would assume the first CHF 5 billion, the federal government the next 9 billion francs, and UBS would assume any further losses. ($1 = 0.9280 Swiss francs)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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