UBS has voluntarily terminated the CHF9bn ($10.2bn) loss protection deal agreed with the Swiss government as part of the state-sponsored takeover of Credit Suisse.
In a stock exchange notice today (11 August), the bank also said it no longer needs the public liquidity backstop - a liquidity assistance loan of up to CHF100bn from the Swiss National Bank, backed by the Swiss government. In a separate statement, the Swiss government said: "These measures, which were created under emergency law to preserve financial stability, will thus cease to exist, and the confederation and taxpayers will no longer bear any risks arising from these guarantees." UBS seals £8bn deal with Swiss government to cover Credit Suisse losses UBS said Credit Suisse has...
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