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The bailout of Credit Suisse poses enormous financial risks to the Confederacy. But also a chance to win a nice prize. Because the federal government charges a premium on its default guarantees — even if the bank doesn’t take the loan at all.
The federal government and the Swiss National Bank have provided a total of CHF 250 billion in liquidity support for the CS rescue. But the money is not free for UBS, which should take over CS.
The federal government charges UBS a premium of 0.25 percent per annum for providing this $100 billion. So that’s 250 million — or 21 million per month. UBS has to pay the money whether it uses the loan or not.
The financial committee of the Council of States has now also considered this deal. But how do parliamentarians assess the negotiating skills of the Bundesrat? At 10:45 a.m., the media commission appears at the Federal Palace. Blick reports live in the ticker and live stream.
Source:Blick
I am Liam Livingstone and I work in a news website. My main job is to write articles for the 24 Instant News. My specialty is covering politics and current affairs, which I’m passionate about. I have worked in this field for more than 5 years now and it’s been an amazing journey. With each passing day, my knowledge increases as well as my experience of the world we live in today.
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