Despite taking a $7bn hit on the assets it has sold to BlackRock, the Swiss bank is on the hook if they fall another $3.8bn as it is lending BlackRock $11.2bn. Even so, the deal gives a fillip to UBS’s detox programme - roughly halving the assets scheduled for its "bad" bank.Sign up to read the rest of this subscriber-only content, or if you are already a member please sign in here.
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