Swiss Taxpayers Spared From Funding UBS’ Rescue Of Credit Suisse

Photo Illustration UBS, Suqian City, Jiangsu Province, China, on June 20, 2023. UBS is said to be facing hundreds of millions of dollars in fines over Credit Suisse's dealings with Archegos. (Costfoto/NurPhoto via Getty Images)

Swiss taxpayers will not fund UBS Group’s (NYSE: UBS) rescue of Credit Suisse (NYSE: CS).

The bank, which has faced a political backlash against the deal, inked a loss protection agreement with the Swiss government, effective post-completion of the acquisition of Credit Suisse.