Never again

p100-sigrist-jpg

No major bank has entirely escaped the financial crisis unscathed, but none in Europe was harder hit than UBS. After reporting $50.6 billion in writedowns on credit assets, the firm finally sought - and received - a promise of $60 billion in aid from the Swiss National Bank (SNB) in October last year. The bail-out was justified on the grounds of national interest, the SNB said - in other words, UBS was simply too big to be allowed to fail.

Like many other regulators, the Swiss Financial Market

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: