UBS terminates loss protection agreement with Swiss government

Credit: REUTERS/DENIS BALIBOUSE

ZURICH, Aug 11 (Reuters) - UBS UBSG.S will not need to tap the Swiss government's 9 billion Swiss franc ($10.27 billion) backstop agreed as part of the state-sponsored takeover of Credit Suisse, Switzerland's biggest bank said on Friday.

"UBS Group AG Voluntarily Terminates Loss Protection Agreement and Public Liquidity Backstop Guaranteed by Swiss Government and Credit Suisse AG Fully Repaid ELA+ Loan," the bank said.

($1 = 0.8760 Swiss francs)

(Reporting by Noele Illien Editing by Miranda Murray)

((Noele.Illien@thomsonreuters.com; +41 41 528 39 73;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.