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Old 10.10.2008, 13:47
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Re: How Safe is UBS

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Maximum CHF 30k per depositor (can be single person or several, e.g. husband nd wife) per Bank. But note that the pool only has 4B. That is insufficient if several smaller banks or a big bank collapse. Hence, worried persons should deposit in the state guaranteed institutions.
FT today
"Reykjavik’s decision to default on the compensation it owes to foreign investors shows that, despite assurances by national governments, there is no such thing as a cast-iron guarantee.
Iceland’s failure to honour its obligations to overseas depositors is an extraordinary event. But, as long as the global financial crisis has further to run, there is no reason to think it will be unique."

Well written analysis; conclusion is - spread your money around several banks (keeping well within guarantee limits), gold bars, etc.
Exactly what you do with your money if you are a big business or other with millions or billions to keep safe is rather more difficult.

Marton
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