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  #2621  
Old 27.07.2017, 19:55
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Libor interest rate to be phased out after string of scandals
Index will not be used after 2021 despite reforms put in place because banks no longer want to participate in setting it.

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So how will Swiss mortgages be priced now? Shall we start an EF index?
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  #2622  
Old 03.09.2017, 13:26
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

PostFinance customer were not informed that after October the PostFinance will no longer be covered/guaranteed by the State.
The CHF 100,000 bank deposit guarantee still applies

Source (German language)
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  #2623  
Old 06.09.2017, 16:44
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Re: How Safe is UBS

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Short answer: Any money up to TCHF 30 is guaranteed.

Does that include PostFinance?
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  #2624  
Old 28.08.2018, 21:13
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Old thread but anyway
US DOJ said that Switzerland-based Basler Kantonalbank (BKB) has admitted to conspiring to defraud the U.S. on taxes, commit tax evasion and file false federal tax returns from 2002 to 2012.

The bank has agreed to pay $17.2 million to the IRS that represents unpaid taxes stemming from its role in the conspiracy, $29.7 million to the U.S. government that represents gross fees it earned on undeclared accounts, and a fine of $13.5 million

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I thought the Kantonal banks were above that sort of thing

Monday, the Swiss authorities will receive details of Swiss residents who have bank accounts outside Switzerland
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  #2625  
Old 29.08.2018, 06:27
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Monday, the Swiss authorities will receive details of Swiss residents who have bank accounts outside Switzerland
Where do they get that information from? Apart from that so called offical sharing of information that started this year?
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  #2626  
Old 29.08.2018, 09:17
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Where do they get that information from? Apart from that so called offical sharing of information that started this year?
The official sharing of information is scheduled to start on Sept 1st., the date has changed a couple of times so will it really happen next Monday?
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  #2627  
Old 19.09.2018, 16:48
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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The official sharing of information is scheduled to start on Sept 1st., the date has changed a couple of times so will it really happen next Monday?
Do you have an update? Has "it" happened yet?
When do the requests for more information from the Tax Authorities start arriving?
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  #2628  
Old 19.09.2018, 17:23
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Do you have an update? Has "it" happened yet?
When do the requests for more information from the Tax Authorities start arriving?
Sorry, no update

Surprisingly difficult to find out if it actually started.

I assume the tax authorities will prioritise their work depending on the amount of possible tax recovery.

So if you are in the billion class then expect requests next month. If you are in the thousands then probably after some years or never!

Timescale also depends on the volume of data and how accurate is the data. I would guess there will be a lot of accounts with small amounts where people died, or moved away or simply forgot about the account!
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  #2629  
Old 15.08.2019, 10:11
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

UBS stock falls below 10CHF for the first time in many years

https://www.finanzen.ch/aktien/ubs-aktie

Even Blick thinks its newsworthy

https://www.blick.ch/news/wirtschaft...d15465261.html

financial-crisis-bank-news-how-safe-ubs-ubs_0.png

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  #2630  
Old 15.08.2019, 11:29
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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UBS stock falls below 10CHF for the first time in many years
It’s worth remembering that this was a stock that traded in the high 70s and 80s back before the crisis and it plus CS were the bedrock of many Swiss pensioners portfolios.

My father in law (R.I.P.) owned about 3000 shares in UBS when he died in 2009. As a young teacher fresh out of training school he invested 600 CHF in the local bank’s shares. Over the years through mergers and acquisitions it folded into UBS. He’d be in an uncomfortable position today were he still alive.
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