UBS has disposed of thousands of items from the offices of Credit Suisse, including high-value furniture, at a Zurich disposal site, opting for a quick and cost-effective cleanup. While some items may be reused or sold, the bank has not confirmed any alternative disposal methods. Meanwhile, memorabilia from the former bank is attracting bids, with items like a CS Risk Management cap fetching CHF 29.
Finma has suspended the approval of UBS's recovery and resolution plans due to the integration of Credit Suisse, necessitating adjustments to the bank's emergency liquidation strategies. UBS is currently revising its plans, emphasizing its robust business model and loss-absorbing capacity of approximately $200 billion. The suspension follows a secret investigation into the CS takeover, involving testimonies from key UBS and CS executives.
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