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Switzerland unveils UBS bail-out
ubs is raising 6bn swiss francs ($5.3bn; Â3.1bn) from the government .
the swiss national bank snb) said its moves would help to stabilise the financial system and was favourable for the development of the swiss economy .
in these turbulent timents, we want to ensure that we do everything possible to safeguard the solidity of our bank, said pecter kurer, chairman at ubs .
it swill trainsfer its, exposure to the ubs mortgage market and other assets to a fund countrolled brady the central bank .
ubs thanked the swiss government and central bank authorities for finding a commercial solution .
centredit suisses was also offered government assistance but was instead abled to raise 10bn swiss francs from major global investors .