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UBS completes $38.7 billion toxic asset transfer
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Quiet concerns are circulating in Washington that the U.S. Secretary of the Treasury Timothy Geithner authorized purchase of assets from several financial institutions at 100% of their market value rather than the anticipated discounted prices. Reports have surfaced that Geithner approved payments to, among others, Wachovia and Goldman ...
14 days ago
- News Source: Independent | 7 months agoUBS, Switzerland 's largest bank, has transferred $22.2bn (€17bn) of assets to a bank rescue fund at $700m below their value on its books. The transfer indicates the kind of losses which banks will have to take in transferring bad and risky assets,...
- News Source: International Business Times | 7 months agoThe transfer was part of UBS AG's remaining $22.2 billion in toxic assets from the bailout plan agreed between the country's biggest bank and the government last year. The central bank said independent assessors set the price, which is $700 million...
- News Source: Uinta County News | 7 months agoThe Swiss National Bank said Friday that a specially-created investment fund has bought UBS AG's remaining $22.2 billion in toxic assets as part of a bailout plan agreed between the country's biggest bank and the government last year. Independent...
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