Swiss Government Agrees to Shoulder Billions in Losses in UBS Takeover of Credit Suisse

UBS and Swiss government signed a loss protection agreement for the takeover of Credit Suisse
Swiss government will cover losses of up to 9 billion Swiss francs on a designated portfolio of non-core assets
UBS must support the development of Switzerland's status as a financial centre after the takeover
UBS expects to minimize losses and maximize value realization on the assets
The Credit Suisse acquisition is expected to complete as early as June 12.