Investment Banking

UBS pays $300m to settle legacy Credit Suisse mortgage-backed securities case

The Swiss back is looking to draw a line under the issues of its former rival

UBS has drawn a line under another legacy Credit Suisse issue by reaching an agreement with the US Department of Justice
UBS has drawn a line under another legacy Credit Suisse issue by reaching an agreement with the US Department of Justice Photo: FABRICE COFFRINI/Getty Images

UBS has paid $300m to draw a line under a long-running settlement related to Credit Suisse’s role in selling residential mortgage-backed securities in the US.

The Swiss bank said that it has reached an agreement with the US Department of Justice to resolve its obligations for a 2017 settlement by Credit Suisse.

WSJ Logo
Exits Lift Carlyle in Second Quarter as Firm Sees Better Market ConditionsExternal link

Exits Lift Carlyle in Second Quarter as Firm Sees Better Market Conditions