UBS ends government rescue packages as Credit Suisse takeover complete

UBS terminated a 9 billion Swiss franc loss protection agreement and 100 billion Swiss franc public liquidity backstop with the Swiss government related to the Credit Suisse takeover.
The emergency measures were put in place to preserve financial stability during the merger and have now ceased to exist, removing risks for taxpayers.
Credit Suisse has fully repaid a 50 billion Swiss franc emergency loan from the Swiss National Bank.
UBS stated more information on merger milestones will be announced on August 31 as part of its second-quarter results.
The Swiss Federal Council plans to introduce a public liquidity backstop under ordinary law and review the too-big-to-fail regulatory framework.