UBS: agreement with DoJ in RMBS case
(CercleFinance.com) - Today UBS announced that it has reached an agreement with the US Department of Justice (DoJ) to settle a case inherited from 2006-2007 relating to the issuance, underwriting and sale of residential mortgage-backed securities (RMBS).
Under the terms of the agreement, the Swiss bank will pay $1.435bn to end all civil actions brought by the DoJ in this matter. The settlement was fully provisioned in previous periods.
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