However, the two Swiss banks chose opposite routes to achieve this, reflecting their different levels of exposure to illiquid subprime-linked assets. This was evident earlier this year as well, with UBS already forced to raise billions worth of new capital, while Credit Suisse has until now not seen a need to recapitalise.
And Credit Suisse, albeit a lot smaller, continues to look the stronger of the two. Yesterday it said it had refused the measures offered by the Swiss authorities, choosing instead...
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