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UBS Braces for Massive Penalty Due to Credit Suisse's Archegos Debacle

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Source: Financial Times
TL;DR

UBS is expected to face a financial hit of hundreds of millions of dollars due to Credit Suisse's Archegos failings. The losses are related to UBS's role as a prime broker for Archegos, which collapsed in March after failing to meet margin calls. Credit Suisse has already reported losses of $4.7bn due to the scandal.

Topics:businessfinance#archegos#credit-suisse#finance#financial-hit#losses#ubs
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  1. UBS faces hit of hundreds of millions of dollars over Credit Suisse's Archegos failings  Financial Times
  2. UBS faces big penalty over Credit Suisse's Archegos failings -FT  Reuters
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