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-   -   Financial Crisis Bank News [was: How Safe is UBS?] (https://www.englishforum.ch/swiss-politics-news/31016-financial-crisis-bank-news-how-safe-ubs.html)

delite1 19.08.2008 14:58

Financial Crisis Bank News [was: How Safe is UBS?]
 
Hi

I am a new member and have spent the last few days searching the board for a discussion on the safety of keeping money in UBS.This seems to be a difficult subject to obtain any views apon in the UK as not many people are very familiar with the establishment bar the recent writedown stories heralded in the UK press.
If I have missed a thread which has already dealt with this would you be kind enough to guide me to it. If however, you feel you could offer your opinion on the wisdom of keeping your savings in UBS here your commentary would be gratefully received.

Thanks in advance.

Delite1

tomcat 19.08.2008 15:00

Re: How Safe is UBS
 
Thank God this hasn't been discussed here yet. ;)

Polorise 19.08.2008 15:01

Re: How Safe is UBS
 
Quote:

Originally Posted by delite1 (Post 295894)
Hi

I am a new member and have spent the last few days searching the board for a discussion on the safety of keeping money in UBS.This seems to be a difficult subject to obtain any views apon in the UK as not many people are very familiar with the establishment bar the recent writedown stories heralded in the UK press.
If I have missed a thread which has already dealt with this would you be kind enough to guide me to it. If however, you feel you could offer your opinion on the wisdom of keeping your savings in UBS here your commentary would be gratefully received.

Thanks in advance.

Delite1


plug "bank" into the search function & you'll be occupied for a few days chap ....:D

private_banker 19.08.2008 15:37

Re: How Safe is UBS
 
UBS have nudged every other bank aside and have topped the charts on sub-prime losses. Having said that, most of the write-downs are write-downs and not realised losses (which one would hope, will have a value at some point in the future). UBS have come clean and I would say that they are one best 'risks' around to take.

Also remember that you will be taking the credit risk of UBS only if you invest in one of their deposit accounts or buy one of the corporate bonds issued by them. This will not be the case if you invest in UBS funds and mandates. So even if UBS goes down, your investments will be safe (subject of course to the market performance and the credit risk of the underlying issuers).

The bottom line is that invest in anything that does not appear in their balance sheet and you don't have to worry about UBS going down.

Kittster 19.08.2008 20:14

Re: How Safe is UBS
 
Short answer: Any money up to TCHF 30 is guaranteed.

beardsy 19.08.2008 23:06

Re: How Safe is UBS
 
delite, it's safe. I guess you've got money in there? I'm sure it's hard not to stress about it, but it'll be fine. Really.

Bananahead 20.08.2008 07:24

Re: How Safe is UBS
 
There has been a lot of trollism about UBS here in the last few months. It's best to just ignore it.

Simply, your money is safe. UBS as a business is not going to fail.

andrew1306 20.08.2008 08:03

Re: How Safe is UBS
 
Quote:

Originally Posted by Kittster (Post 296179)
Short answer: Any money up to TCHF 30 is guaranteed.

Only up to 30k? Surprising, I think in both the States and Canada the government guarentees deposits to 100k...

delite1 20.08.2008 13:51

Re: How Safe is UBS
 
Thanks for all the responses. I was thinking considerably more thank 30K but that's what a lot of yourselves probably have the accounts for, right?

But back to the point and original question, it seems in Britain, as if a lot of the UK press has enjoyed watching UBS getting their fingers burnt so I may have been influenced by reading unbiased opinion, but I got to thinking that ,despite the writedowns, largely UBS have repaired their balance sheet to a degree via the foriegn investors and the rights issue/s. It is very comforting to hear ,from some of you, that in your opinion savings in UBS are about as safe as they can be and I have always felt that the Swiss authorities surely would not watch this institution fail. Do you think my confidence is mis-placed?

tomcat 20.08.2008 13:58

Re: How Safe is UBS
 
Quote:

Originally Posted by delite1 (Post 296781)
Thanks for all the responses. I was thinking considerably more thank 30K but that's what a lot of yourselves probably have the accounts for, right?

But back to the point and original question, it seems in Britain, as if a lot of the UK press has enjoyed watching UBS getting their fingers burnt so I may have been influenced by reading unbiased opinion, but I got to thinking that ,despite the writedowns, largely UBS have repaired their balance sheet to a degree via the foriegn investors and the rights issue/s. It is very comforting to hear ,from some of you, that in your opinion savings in UBS are about as safe as they can be and I have always felt that the Swiss authorities surely would not watch this institution fail. Do you think my confidence is mis-placed?

Many believed that the Swiss government would also save Swissair.

They didn't.

Caveat emptor.

Thalwiler 20.08.2008 13:58

Re: How Safe is UBS
 
Quote:

Originally Posted by andrew1306 (Post 296387)
Only up to 30k? Surprising, I think in both the States and Canada the government guarentees deposits to 100k...

The Uk is 30k and double if in joint names

dino 08.09.2008 14:16

Re: How Safe is UBS
 
Quote:

Originally Posted by Bananahead (Post 296377)
There has been a lot of trollism about UBS here in the last few months. It's best to just ignore it.

Simply, your money is safe. UBS as a business is not going to fail.

muahhhhhhh hhhh aaahhhhhhaaaaaahhhhhahhhhh
oh my god... I'm in tears...!!!

UBS cannot fail.... :rolleyes:

the only thing they havent done yet is light their cigars with $100 bills...

private_banker 08.09.2008 14:24

Re: How Safe is UBS
 
Quote:

Originally Posted by dino (Post 308733)
muahhhhhhh hhhh aaahhhhhhaaaaaahhhhhahhhhh
oh my god... I'm in tears...!!!

UBS cannot fail.... :rolleyes:

the only thing they havent done yet is light their cigars with $100 bills...

Will you please enlighten us with the reasons behind your daring statement as why you think UBS can/will fail?

Bananahead 08.09.2008 14:54

Re: How Safe is UBS
 
Quote:

Originally Posted by dino (Post 308733)
muahhhhhhh hhhh aaahhhhhhaaaaaahhhhhahhhhh
oh my god... I'm in tears...!!!

UBS cannot fail.... :rolleyes:

the only thing they havent done yet is light their cigars with $100 bills...

Is it possible that you don't understand the difference between "is not going to" and "cannot" :msngrin:

Clearly any business CAN fail.

But UBS is not about to.

nathan-rahl 08.09.2008 16:59

Re: How Safe is UBS
 
my 2 cents worth:

if you would look back on the financial crisis that UBS experienced, most International Big Banks have also been hit by that. and from what i've read before, it also includes large banks within switzerland, i.e. credit Suisse.

the question: how safe is UBS? safe as long as those within UBS moves on the right way. as long as they manage it correctly. will they fail? i don't see it in the next years or so, surely, they have huge reserves, and their profits before this crisis can overcome it. all business can fail, but for a bank as large as ubs, i think, they can hold out a lot longer than bear sterns

dino 09.09.2008 14:28

Re: How Safe is UBS
 
Quote:

Originally Posted by Bananahead (Post 308768)
Is it possible that you don't understand the difference between "is not going to" and "cannot" :msngrin:

Clearly any business CAN fail.

But UBS is not about to.

swelllll.... so YOU obviously knew that Bear Sterns was kaput.
and IndyMac.. and Fannie Mae... and Freddie Mac.
and you obviously shorted all of them, and got rich in the process...

"but UBS is not about to" ....... right!

in today's environment, every f****ing bank is one rumour away from a run.

Shorrick Mk2 09.09.2008 14:34

Re: How Safe is UBS
 
Quote:

Originally Posted by Bananahead (Post 308768)
Is it possible that you don't understand the difference between "is not going to" and "cannot" :msngrin:

Clearly any business CAN fail.

But UBS is not about to.

Are you colleagues with the other forumite that was adamant that UBS net asset flows are positive, perchance?

Just in case, the trolls proved him wrong.

Uncle GroOve 09.09.2008 15:21

Re: How Safe is UBS
 
Quote:

Originally Posted by nathan-rahl (Post 308886)
my 2 cents worth:

if you would look back on the financial crisis that UBS experienced, most International Big Banks have also been hit by that. and from what i've read before, it also includes large banks within switzerland, i.e. credit Suisse.

the question: how safe is UBS? safe as long as those within UBS moves on the right way. as long as they manage it correctly. will they fail? i don't see it in the next years or so, surely, they have huge reserves, and their profits before this crisis can overcome it. all business can fail, but for a bank as large as ubs, i think, they can hold out a lot longer than bear sterns

Man, they've been hiding soo much poop under the carpet, they've lost totally track of it.
The new-last-thing that is going to happen is italian municipalities going after UBS because they "were sold" interest rate derivative products that didn't function as promised.
God knows what next and what after that.... maybe they were ultra-long of Fanne&Freddie pref. shares? :D
But I concur - the problems are sector wide. Therefore I dont see how UBS can possibly ride it out without being significantly impaired, in one way or another.

Paul
P.s. Raiffeisen is THE shiznit ;)

Shorrick Mk2 09.09.2008 15:26

Re: How Safe is UBS
 
Quote:

Originally Posted by nathan-rahl (Post 308886)
they have huge reserves, and their profits before this crisis can overcome it.

You don't say. If the reserves are that huge, how come they had to raise capital then?

Uncle GroOve 09.09.2008 15:36

Re: How Safe is UBS
 
Quote:

Originally Posted by Shorrick Mk2 (Post 309554)
You don't say. If the reserves are that huge, how come they had to raise capital then?

Give him a break...c'mon....
The stock is almost back up @ 25.-
;)

Paul


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