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Coverage dated August 10, 2023

UBS Terminates $10B Government Aid For Credit Suisse Deal

Headline from Investopedia

Swiss megabank UBS has agreed to voluntarily end a $10 billion backstop used to cover potential losses from its merger with Credit Suisse.

Investopedia's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.

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Reports & sources

8 articles, oldest first.

  1. Investopedia

    UBS Terminates $10B Government Aid For Credit Suisse Deal (opens Investopedia)

    Published

    Investopedia's feed description

    Swiss megabank UBS has agreed to voluntarily end a $10 billion backstop used to cover potential losses from its merger with Credit Suisse.

  2. NBC New York

    UBS ends Credit Suisse's government and central bank protections (opens NBC New York)

    Published

    NBC New York's feed description

    UBS’ takeover of Credit Suisse was brokered in March, amid talks with the Swiss government, the Swiss National Bank and regulator FINMA.

  3. Wall Street Journal

    UBS Doesn’t Need Government Cover to Make a Killing on Credit Suisse (opens Wall Street Journal)

    Published

    Wall Street Journal's feed description

    The move to give up a loss-protection agreement suggests that UBS hasn’t found too many skeletons in Credit Suisse’s books.

  4. Forbes

    UBS Cuts $10 Billion Government Backstop For Credit Suisse Rescue (opens Forbes)

    Published

    Forbes's feed description

    The government guarantee could have protected the bank from around $10 billion in losses linked to its takeover of Credit Suisse.

  5. UPI

    UBS voluntarily stops Credit Suisse’s government and central bank protections (opens UPI)

    Published

    UPI's feed description

    Swiss banking leader UBS said it is ending a $10.27 billion loss protection agreement and a $114.1 billion liquidity backstop created by the Swiss government when the lender acquired Credit Suisse in the spring.

  6. The Boston Globe

    UBS ends rescue packages from Swiss government that paved way for Credit Suisse takeover (opens The Boston Globe)

    Published

    The Boston Globe's feed description

    UBS says it has shut down rescue packages agreed with Swiss authorities that made available up to 200 billion Swiss francs (about $230 billion) to help shepherd through its takeover of ailing rival Credit Suisse and avert an international banking crisis.

  7. Wall Street Journal

    UBS Sheds Swiss Government Aid for Credit Suisse Takeover (opens Wall Street Journal)

    Published

    Wall Street Journal's feed description

    The Swiss bank says it no longer needs a $10 billion backstop or liquidity lines.

  8. Winchester Star

    UBS ends billions in taxpayer-funded support that paved way for Credit Suisse takeover (opens Winchester Star)

    Published

    Winchester Star's feed description

    Swiss taxpayers are off the hook from a government-engineered rescue plan that doled out billions to help UBS, the country’s largest bank, take over its ailing rival Credit Suisse. UBS

UBS Terminates $10B Government Aid For Credit Suisse Deal | Since Then