Swiss Bank UBS Repays Central Bank Loan

Switzerland's central bank has said a loan it granted to bail out troubled bank UBS five years ago has been repaid.

The development means UBS can now buy back the once-toxic assets taken out of the bank at the height of the financial crisis.

The assets, worth $38.7bn (£24.7bn) at the time of the bailout, have since become profitable.

UBS, Switzerland's biggest bank, has already said it plans to buy them back.

It described the buy-back as an "important step which will close this chapter in the firm's history with a positive outcome".

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza