UBS and Credit Suisse near deal on loss guarantee and takeover.
TL;DR
UBS expects to finalize its agreement with the Swiss government to cover up to 9 billion Swiss francs ($9.92 billion) in losses from its emergency takeover of Credit Suisse by June 7. The government agreement is one of the final hurdles UBS needs to clear before it can officially close the acquisition of its smaller rival. UBS is also engaged in discussions with Switzerland's financial regulator, FINMA, on the capital and liquidity requirements for the combined bank.
- UBS sees agreement on Credit Suisse loss guarantee by June 7 - SEC filing Reuters
- Credit Suisse traders ponder voluntary redundancy as UBS deal nears eFinancialCareers
- UBS Wins More Than Two Years' Grace on Swiss Capital Rules Bloomberg
- UBS expects Credit Suisse takeover within weeks Reuters
- UBS Expects to Ink Government Loss Guarantee Tomorrow finews.com
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