Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
Defense ministry denies special treatment for BTS’ V amid phone use allegations
-
3
OpenAI in talks with Samsung to power AI features, report says
-
4
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
5
Two jailed for forcing disabled teens into prostitution
-
6
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
7
S. Korea not to attend Sado mine memorial: foreign ministry
-
8
South Korean military plans to launch new division for future warfare
-
9
Kia EV9 GT marks world debut at LA Motor Show
-
10
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
BERLIN (AP) ― Swiss bank UBS says it plans to buy back a fund set up during the 2008 financial crisis into which it offloaded high-risk assets.
UBS AG says it expects to exercise an option to buy the so-called StabFund from the Swiss National Bank in the fourth quarter. It says the move will boost its capital position.
The fund purchased $38.7 billion in UBS assets using money provided by the central bank ―less than foreseen in the bailout package originally designed by the government, which reserved $54 billion to help UBS dispose of high-risk securities.
Tuesday’s announcement came as UBS released its second-quarter earnings report, confirming that it earned 690 million francs ($743 million), up from 524 million francs a year earlier. Earnings at its investment bank leapt.
UBS AG says it expects to exercise an option to buy the so-called StabFund from the Swiss National Bank in the fourth quarter. It says the move will boost its capital position.
The fund purchased $38.7 billion in UBS assets using money provided by the central bank ―less than foreseen in the bailout package originally designed by the government, which reserved $54 billion to help UBS dispose of high-risk securities.
Tuesday’s announcement came as UBS released its second-quarter earnings report, confirming that it earned 690 million francs ($743 million), up from 524 million francs a year earlier. Earnings at its investment bank leapt.
-
Articles by Korea Herald
