UBS jumps 5% as it ends SNB protection, liquidity backstop - Breaking The News

UBS jumps 5% as it ends SNB protection, liquidity backstop

11 August

1 min read

EPA-EFE/SALVATORE DI NOLFI

UBS Group AG soared more than 5% in Friday's trading after the lender announced it terminated the 9 billion Swiss franc loss protection agreement and the 100 billion Swiss franc public liquidity backstop guaranteed by the Swiss government when it acquired troubled bank Credit Suisse earlier this year.

The lender also said Credit Suisse fully repaid the Emergency Liquidity Assistance Plus (ELA+) loan of 50 billion Swiss francs to the SNB as of August 10.

UBS shares rallied 5.02% to 20.380 Swiss francs at 10:46 am CET.

credit suisse ubs

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