UBS repays loan to SNB and prepares to buy back former toxic assets

GENEVA – Swiss National Bank (SNB) Friday confirmed that a loan it had granted to bail out troubled UBS five years ago has been repaid paving way for the banking giant to buy back once toxic assets worth billions of francs. At the end of 2008, UBS was forced to hand over 38.7 billion francs ($41.5 billion) of its risky securities to the central bank’s Stabilisation Fund (StabFund), set up to …

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