UBS signs loss protection agreement with Swiss government

[UBS signs loss protection agreement with Swiss government] UBS said on the 9th local time that it had signed a loss protection agreement with the Swiss government, effective from the date when the bank's acquisition of Credit Suisse was completed, according to Market Watch. Under the agreement, UBS will bear the potential losses of 5 billion Swiss francs (39.6 billion yuan) from the designated portfolio of Credit Suisse's non-core assets, while the Swiss government will bear the potential losses of 9 billion Swiss francs (71.2 billion yuan). UBS said it expected to complete the acquisition of Credit Suisse as early as the 12th.