UBS has warned that it may take a net loss for the year, due in part to estimated losses on U.S. mortgage-related positions totaling $14 billion. The Swiss investment bank, which has dual headquarters in Zurich and Basel, said $12 billion of the losses were on positions related to the U.S. subprime mortgage market. The other $2 billion in losses were on other positions related to the U.S. residential mortgage market.
UBS Warns of Possible Mortgage-Linked Loss
January 30, 2008, 2:00 p.m. EST 1 Min Read
