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The Swiss National Bank has joined other European central banks in rolling out more funding for the world’s hard-hit financial markets.
The institution allotted $10 billion (SFr10.94 billion) at an average rate of 2.72 per cent, while the European Central Bank put up $40 billion and the Bank of England $26 billion.
Japan has also pledged to [...]

A majority of Swiss people still have confidence in the country’s banks, although not in UBS UBSN.AS, which has been mauled by the global financial crisis, an opinion poll published on Sunday showed.
The survey conducted by Isopublic pollsters for the SonntagsBlick newspaper during last week’s rollercoaster ride on the stock markets showed that 75 percent [...]

Switzerland’s blue chip index climbed 401.92 points to close the week at 7,025.17, although still down 190.33 points compared with seven days ago.
Shares in UBS, Switzerland’s largest bank, closed almost 37 per cent higher at SFr21 ($19.11), while Credit Suisse Group finished at SFr56 per share, up 18 per cent.
Buoyed by a temporary ban on [...]

Swiss banks have taken necessary measures early enough during the credit crisis, SNB Chairman Jean-Pierre Roth said in a TV interview on Thursday.
“I am glad that our large banks have taken measures quickly,” Roth told Swiss TV channel SF1.
“We see now that the situation in America is much worse. But here we took measures early [...]