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THANK YOU but, from now on, let’s do it ourselves. The announcement, made early in the morning on Thursday 11 August by UBS could be summed up in these terms, that just under 5 months after the rescue of Credit Suisse, waives the 9 billion franc guarantee for the operationmade available by the Confederation.
In essence it was about substantial protection against potential lossesresulting from the takeover of the other large Swiss bank on the verge of bankruptcy, which was completed on 19 March this year.