Ubs

Sahasrara · #1 26.08.2011, 10:17

Hi

So, has UBS already paid back all the money which they got from the Swiss National Bank, and how did the SNB profit or UBS profit from it?

Thanks,
Sahasrara

dawiz · #2 26.08.2011, 10:59

	Quote:	Sahasrara
	Hi So, has UBS already paid back all the money which they got from the Swiss National Bank

I doubt it.

#3 26.08.2011, 11:40

	Quote:	Sahasrara
	Hi So, has UBS already paid back all the money which they got from the Swiss National Bank, and how did the SNB profit or UBS profit from it? Thanks, Sahasrara

No, they have paired their assets from $1tr to about $500Bn. They couldnt do that in 2 years without some one plugging the funding gaps. So the SNB is still on the hook. Last week the SNB started a very large swap line with the US federal reserve "just in case" credit suisse or UBS start to fail. So far they have only used $500mn, but it could easliy rise to $100bn if UBS's or CS's capital structure inverts.