Federal council Switzerland compensates to UBS losses because of purchases Credit Suisse Group AG

The largest bank Switzerland UBS agreed with the country government about a covering of losses which the group can receive as a result absorption Credit Suisse Group AG. About it reports broadcasting company "CNBC" Within the agreement with the authorities of UBS Group will receive nine billion francs (nearly ten billion US dollars). In Federal council Switzerland noted that purchase was promoted by the failed banks that "to keep financial stability and to prevent damage to economy". Therefore the administration agreed to cover part of losses of UBS from acquisition of high-risky assets. Last month UBS estimated the approximate...