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Old 19.08.2008, 14:58
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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
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  #2  
Old 19.08.2008, 15:00
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Re: How Safe is UBS

Thank God this hasn't been discussed here yet.
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Old 19.08.2008, 15:01
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Re: How Safe is UBS

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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 ....
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Old 19.08.2008, 15:37
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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.
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Old 19.08.2008, 20:14
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Re: How Safe is UBS

Short answer: Any money up to TCHF 30 is guaranteed.
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Old 19.08.2008, 23:06
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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.
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Old 20.08.2008, 07:24
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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.
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Old 08.09.2008, 14:16
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Re: How Safe is UBS

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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....

the only thing they havent done yet is light their cigars with $100 bills...
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Old 15.10.2008, 19:28
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Re: How Safe is UBS

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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.
yes, pay no attention to the man behind the curtain.
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Old 20.08.2008, 08:03
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Re: How Safe is UBS

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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...
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Old 20.08.2008, 13:51
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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?
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Old 20.08.2008, 13:58
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Re: How Safe is UBS

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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.
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Old 20.08.2008, 13:58
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Re: How Safe is UBS

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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
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Old 18.03.2010, 15:09
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Re: How Safe is UBS

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The Uk is £30k and double if in joint names
Actually the UK govt guarantees £50k per financial institution, double for joint accounts:
http://www.thisismoney.co.uk/savings...6&in_page_id=7

When I opened an account at UBS last week I enquired what the guarantee levels were in Switzerland, and the bank employee told me it was CHF100k per person, but I still need to confirm this for myself (it's on the to do list).
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Old 20.12.2012, 08:21
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Re: How Safe is UBS

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The Uk is £30k and double if in joint names
The UK is actually £85k and double if a joint account - per bank or group of banks if under the same ownership.
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Old 22.09.2008, 14:04
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Re: How Safe is UBS

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Only up to 30k? Surprising, I think in both the States and Canada the government guarentees deposits to 100k...
Since Saturday deposits in the Irish republic will be guaranteed to 100k Euro.

So now you know where to consider sending some money
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Old 16.09.2008, 16:01
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Re: How Safe is UBS

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Short answer: Any money up to TCHF 30 is guaranteed.
If you need a bigger guarantee then the Kantonal Banks (e.g. Zurich Kantonal Bank) are guaranteed by the Kanton & the Swiss Post Office is guaranteed by the Government. In all cases the guarantee is not limited - (maybe some of the smaller Kantons have a limit (?) ) - you should check the small print for any one you choose to be sure what the guarantee is.

Marton
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Old 16.09.2008, 16:10
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Re: How Safe is UBS

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If you need a bigger guarantee then the Kantonal Banks (e.g. Zurich Kantonal Bank) are guaranteed by the Kanton & the Swiss Post Office is guaranteed by the Government. In all cases the guarantee is not limited - (maybe some of the smaller Kantons have a limit (?) ) - you should check the small print for any one you choose to be sure what the guarantee is.

Marton
Cough cough. Not all cantonal are guaranteed. And surely not unlimited guarantees.
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Old 16.09.2008, 16:17
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Re: How Safe is UBS

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Cough cough. Not all cantonal are guaranteed. And surely not unlimited guarantees.

I did write "you should check the small print for any one you choose to be sure what the guarantee is"

In the ZKB web site it states
"Cantonal guarantee
Under the law, the canton bears responsibility for all Zürcher Kantonalbank's liabilities should the bank's resources prove inadequate. This cantonal guarantee acts as a stabilising force for the financial market as a whole, particularly in times of economic uncertainty. "

What do you think this Cantonal Guarantee means?

Marton
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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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