TITLE

No local impact felt from RBS, UBS bailouts

AUTHOR(S)

Soule, Alexander

PUB. DATE

October 2008

SOURCE

Fairfield County Business Journal;10/27/2008, Vol. 47 Issue 43, p7

SOURCE TYPE

Periodical

DOC. TYPE

Article

ABSTRACT

The article reports on the bailouts signed off by Switzerland with UBS AG and Great Britain with the Royal Bank of Scotland. It is noted that the Swiss national bank has agreed to take on up to $54 billion in bad loans held by UBS where more than half of it from the collapse of the U.S. mortgage market. Meanwhile, the British government has signed off on a bailout of Royal Bank and two other British banks.

ACCESSION #

35111781

Tags: INTERNATIONAL economic assistance;  BAILOUTS (Finance);  UBS AG;  ROYAL Bank of Scotland;  BUSINESS losses

 

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