Sunday, July 06, 2008

Big Shitpile

Getting bigger.
ZURICH (Reuters) - Swiss authorities could require UBS <UBSN.VX> and Credit Suisse <CSGN.VX> to set aside an additional 70 billion Swiss francs ($68.29 billion) in capital, a newspaper reported on Sunday, citing lawmakers.
"40 billion for UBS, 30 billion francs for CS," parliamentarian Hans Kaufmann told Swiss weekly Sonntag, referring to the additional capital the banks would have to put aside under the proposal.