UBS, Credit Suisse didn't tap Fed for liquidity

UBS, Credit Suisse didn't tap Fed for liquidity

August 19, 2011, 8:51 am

A spokesman for UBS AG said Friday that the bank didn't borrow from the U.S. Federal Reserve via a swap arrangement with the Swiss National Bank. Rival Credit Suisse AG also reportedly said it wasn't behind a $200 million loan made by the Fed to the Swiss central bank.