UBS inks pact with Swiss government as Credit Suisse deal may close next week

UBS inks pact with Swiss government as Credit Suisse deal nears closure

UBS said Friday that it’s signed a loss protection agreement with the Swiss government covering up to 9 billion francs of losses once the takeover of Credit Suisse is completed.

Terms call for the guarantee to only be implemented if UBS takes 5 billion francs of losses from what are called non-core assets of Credit Suisse.

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