Ubs will pay $ 300: This article explores the topic in depth.
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The Swiss Bank UBS announced Monday August 4. In addition, having resolved an additional dispute concerning Credit Suisse, by sealing an agreement with the American Department of Justice (DoJ) in a file linked to the subprime crisis. Consequently, UBS will pay $ 300 million (259 million euros) as part of this agreement. Furthermore, concluded the 1is August, relating to the remaining obligations of Credit Suisse in this file ubs will pay $ 300 relating to financial products backed by mortgage loans, the bank said in a press release.
These financial products had been at the heart of the 2008 financial crisis. Like several American banks. Credit Suisse concluded an agreement in 2017 to close an investigation by the Department of Justice for a fine of $ 5.28 billion (4.6 billion euros).
“With this agreement”which concerns the remainder of the Credit Suisse obligations in this file. UBS has resolved a question more inherited from its former rival, wanted to underline the banking giant. In 2023, UBS had agreed to buy Credit Suisse under pressure from the Swiss authorities to avoid bankruptcy. Credit Suisse. which was then the second largest bank in the country, had seen its reputation tarnished by a series of scandals. After the takeover, UBS had made a big cleaning in its activities.
In May. UBS ubs will pay $ 300 had resolved another dispute concerning Credit Suisse by concluding an amicable agreement with the DOJ to resolve an old file on issues of tax evasion, for a penalty of $ 511 million (442 million euros).
ubs will pay $ 300 — UBS premises in Shanghai, China, March 20, 2023. ALY SONG / REUTERS The Swiss Bank UBS announced Monday August 4. having resolved an additional dispute concerning Credit Suisse, by sealing an agreement with the ubs will pay $ 300 American Department of Justice (DoJ) in a file link.
Ubs will pay $ 300
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