Summary
ROUNDING off another dire week for the battered financial sector, UBS has been slapped with a [pounds]78m fine by Wall Street regulators and forced to buy back [pounds]10bn of supposedly safe bonds.
The settlement with the US authorities is the largest yet following a probe into whether US banks off-loaded the debt onto clients. Citigroup, America's second largest bank, was forced to sign up to a [pounds]10bn aid package for people sitting on big investment losses on Thursday. But it only agreed to buy back [pounds]3.4bn of the bonds.See the full content of this document
Extract
Ubs Forced to Buy Back [Pounds]10bn of 'Safe' Bonds
Jeffrey Rosenberg, of Bank of America, estimates ...
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