The Swiss government also granted a guarantee to assume losses up to 9 billion Swiss francs from certain assets over a preset threshold "in order to reduce any risks for UBS," said a separate government statement. The Swiss National Bank pledged a loan of up to 100 billion Swiss francs ($108 billion) to support the takeover. "This is absolutely essential to the financial structure of Switzerland and. There are no options in this," Kelleher said when asked during the press conference if the bank could back out of the deal. "We are committed to making this deal a great success.
The combined bank will have $5 trillion of invested assets, according to UBS. We have structured a transaction which will preserve the value left in the business while limiting our downside exposure," said UBS Chairman Colm Kelleher in a statement. "This acquisition is attractive for UBS shareholders but, let us be clear, as far as Credit Suisse is concerned, this is an emergency rescue. The terms of the deal will see Credit Suisse shareholders receive 1 UBS share for every 22.48 Credit Suisse shares they hold. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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