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UBS: have already started work on emergency plans
Oct 17, 2024 12:33 PM

ZURICH, Oct 15 (Reuters) - UBS said it has

already begun work on further developing its existing plans for

an emergency in a targeted manner after its experiences from the

Credit Suisse crisis.

"As FINMA confirmed in its press release, UBS meets the

applicable requirements to be able to be wound up in the event

of a crisis in accordance with the preferred restructuring

strategy," the Swiss bank said in a statement on Tuesday.

"The experience from the Credit Suisse crisis and the rescue

by UBS now require the further development of the resolution

planning in order to expand the existing plans in a targeted

manner. UBS has already started this work," it added.

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