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UBS Group AG [nb 1] is a multinational investment bank and financial services company founded and based in Switzerland. Headquartered simultaneously in Zürich and Basel , [ 9 ] it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world.
UBS only wanted Credit Suisse if the price was low, and if Swiss authorities indemnified UBS from any Credit Suisse regulatory violations. [ 15 ] [ 16 ] On the morning of 19 March, UBS made an offer of 0.25 Swiss francs ($0.27) per share, valuing Credit Suisse at around $1 billion, but the price outraged the Mideast investors.
UBS Group AG building in St. Gallen.UBS maintains strict banking secrecy practices which have been used to facilitate tax evasion. The Swiss investment bank and financial services company, UBS Group AG, has been at the center of numerous tax evasion and avoidance investigations undertaken by U.S., French, German, Israeli, and Belgian tax authorities as a consequence of their strict banking ...
UBS also entered the life insurance business in 1993 establishing UBS Life. UBS formed a joint venture with Swiss Life in 1995, known as UBS Swiss Life. UBS took a 25% ownership position in Swiss Life in exchange for a 50% share in the joint venture. [5] UBS entered the 1990s clearly the largest and most conservative of the three large Swiss Banks.
The bank's net earnings for the year ending June 2011 were $6.4 billion [13] with a gross profit of approximately $1.1 billion reported by UBS for the third quarter of 2011. [14] [15] On 15 September, the day of Adoboli's arrest, the price of the stock of UBS closed down 10.8%, while the price of other European bank stocks rose between 3–6%. [16]
Whilst the yield curves built from the bond market use prices only from a specific class of bonds (for instance bonds issued by the UK government) yield curves built from the money market use prices of "cash" from today's LIBOR rates, which determine the "short end" of the curve i.e. for t ≤ 3m, interest rate futures which determine the ...
This requirement towards G-SIBs depend on an indicator-based measure of size, interconnectedness, complexity, non-substitutibility and global reach, elevating it to be 1.0% or 1.5% or 2.0% or 2.5% or 3.5% higher, compared to the similar Basel III capital requirement at 7% towards banks not contained on the list.
Duration is a linear measure of how the price of a bond changes in response to interest rate changes. As interest rates change, the price does not change linearly, but rather is a convex function of interest rates. Convexity is a measure of the curvature of how the price of a bond changes as the interest rate changes.