Home > News > Fund Administration > AFP: UBS Will Write Down Billions More
Fund Administration, Prime Brokerage

AFP: UBS Will Write Down Billions More

An expected further billions in asset write downs from Swiss bank UBS is fueling pressure on the Swiss Banks, Agence France Presse reports. UBS has already written down over $37 billion (23.41 billion) since the onset of the subprime crisis

By None

An expected further billions in asset write-downs from Swiss bank UBS is fueling pressure on the Swiss Banks, Agence France-Presse reports.

UBS has already written down over $37 billion (23.41 billion) since the onset of the subprime crisis last year.

However, on Sunday, Swiss local newspaper Sonntagszeitung reported that the bank would write down yet another 4-7 billion Swiss francs (2.49-4.36 billion; $3.93-6.88 billion) in assets, and report a loss of 1-5 billion Swiss francs for the quarter ending Monday.

«