UBS ends rescue packages from Swiss govt that paved way for Credit Suisse takeover

In total, UBS also paid some 730 million francs in commitment fees and risk premiums to Swiss authorities, comprised of 200 million to the government and 530 million to the national bank.

Swiss authorities and UBS announced the hastily arranged merger in March to prevent the collapse of Credit Suisse.

The turmoil at Credit Suisse, which counted among some 30 systemically important banks across the world, added to fears about global financial markets earlier this year in the wake of failures of mid-sized banks in the United States. The crisis also struck at the heart of Switzerland’s identity as a top-drawer financial centre.

Swiss authorities came under pressure from some critics and sceptics who at the time disagreed with or questioned support from taxpayers to help smooth the way for a merger of Switzerland’s best-known banks in the private sector.

The Swiss National Bank, in its own statement on Friday, said its total liquidity assistance for UBS and Credit Suisse reached 168 billion. UBS still has outstanding commitments to repay some loans.