Switzerland Grants UBS 9 Billion-Franc Credit Suisse Guarantee
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Switzerland is granting UBS Group AG a 9 billion franc ($9.7 billion) guarantee to cover potential losses related to its takeover of Credit Suisse Group AG.
The guarantee applies to a specific part of the bank’s business and will be activated if losses occur on the portfolio, according to a press release from the government on Sunday, which didn’t detail the businesses.