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Valuation risks fell at UBS in Q2

Swiss lender is sitting on $8.1 billion of Level 3 assets

UBS was able to value its mark-to-model assets with greater confidence in Q2, as the pricing challenges that bedevilled the bank at the height of the coronavirus-induced financial panic ebbed. However, valuation uncertainty remained high relative to pre-pandemic levels.

The Swiss bank pegged the value of its Level 3 assets, those valued using its own inputs, at $8.1 billion as of end-June, and

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