UBS makes first detailed statement about “rogue” trades; losses now at US$2.3 billion

19 September 2011 | 2 minutes read

According to new information made public on Sunday, UBS has suffered losses of US$2.3 billion on account of unauthorized trades; as opposed to the US$2 billion it had originally estimated. The bank says that it has now identified all of the unauthorized positions and covered the risk stemming from them. In its first detailed statement about the “rogue trades”, UBS…

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