Swiss Banks USD60bn Cheque
Published / Last Updated on 16/10/2008
Swiss Banks $60bn Cheque
The Swiss National Bank has made available $60bn to restore confidence in their banking system and to protect their main international banking names such as UBS and Credit Suisse.
UBS is said to be receiving 6bn Swiss Francs (£3bn) to cover bad debts on lending in the US whilst Credit Suisse was understood to be talking to one of its parent owners, the Qatar Investment Authority, with a view to raising 10bn Swiss Francs (£5bn)
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