Menu
Inshorts
For the best experience use inshorts app on your smartphone
inshortsinshorts
UBS, Swiss govt sign $10 bn deal to cover Credit Suisse losses
short by Mansi Agarwal / on Friday, 9 June, 2023
UBS and the Swiss government have signed a loss protection agreement worth 9 billion Swiss francs (about $10 billion) related to the bank's takeover of collapsed Credit Suisse bank. The deal will come into effect if UBS' losses from liquidating Credit Suisse's assets exceed 5 billion francs. In March, UBS agreed to acquire Credit Suisse for $3.2 billion.
read more at CNBC-TV18