CS takeover – Federal government and UBS sign agreement on loss guarantee – News




CS takeover – the federal government and UBS sign a loss guarantee contract – News – SRF
























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  • UBS and the federal government have signed the contract for the loss guarantee from the Credit Suisse takeover by UBS.
  • The Federal Department of Finance and UBS announced that the contract was signed on Friday.
  • The contract regulates when the federal government’s financial guarantee of CHF 9 billion applies in the event of any losses arising from the sale of Credit Suisse assets.

The loss guarantee by the federal government had already been announced when the competitor UBS announced the takeover of CS. According to the agreement, the federal government will assume a loss guarantee of CHF 9 billion on a certain portfolio of CS assets that are “difficult to value”. However, this only happens if UBS makes losses on these assets that are greater than CHF 5 billion.

With the CS takeover, UBS is also taking over a portfolio of assets that does not fit UBS’s core business and cannot be integrated into the bank’s business and risk profile, the FDF explains the agreement in its communication. On March 19, the federal government therefore agreed to bear part of any losses from the sale of these assets.

According to an earlier announcement by UBS, the takeover of Credit Suisse is to be completed next Monday.


SRF 4 News, June 9th, 2023, 10:00 a.m.;


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