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UBS’s $10bn Credit Suisse backstop in spotlight ahead of next results

With results due on 31 August, all eyes are turning to the financial support UBS might need

The FT reports that UBS is planning not to draw on a major safety net offered by Swiss authorities
The FT reports that UBS is planning not to draw on a major safety net offered by Swiss authorities Photo: Jakub Porzycki/Getty Images

UBS's backstop on its emergency rescue deal for Credit Suisse is set to be in focus next month as the Swiss lender reveals its latest results, with insiders hoping to announce that the bank will not have to fall back on taxpayer funds.

Individuals familiar with the matter are hoping to confirm they will not have to rely on the CHF 9bn ($10bn) shield offered by Swiss authorities to secure March's dramatic takeover, the Financial Times reports.

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