UBS Swiss transfer toxic assets of the Central Bank

Completed bank UBS Swiss transfer of assets, "toxic" of $ 38.7 billion dollars to the Swiss central bank.
The bank ended the last steps in this direction yesterday, with a total cost of three hundred million dollars in the first quarter of this year. Intended to toxic assets and loans and mortgages that can not be collected. And increase the transfer of bonds, loans and derivatives of $ 22.2 billion worth of assets of a separate fund, the establishment of the Central Bank under the financial rescue package for the bank, to 38.7 billion dollars. Is noteworthy that the final size of the Fund's assets is less than expected last year when he was informed that the bank can transfer the assets of the value of sixty billion dollars. The rescue package also included the payment of cash to the bank. Reference is made to that UPS revealed last February announced plans for restructuring after suffering losses worth 8.1 billion Swiss francs (6.97 billion dollars) in the fourth quarter of last year by the global financial crisis. The Bank announced its intention to write two posts in the investment sector in an effort to reduce the losses, which amounted to a total value in 2008 of more than 19.6 billion francs (16.876 billion U.S. dollars).