UBS faces half billion exposure

Swiss bank UBS faced over $500 million in exposure after U.S. auto‑parts supplier First Brands filed for bankruptcy, prompting banks including Jefferies to assess knock‑on losses.

Handelsblatt

Banks: UBS Examines the Impact of First Brands' Bankruptcy on Its Own Funds

The insolvent U.S. auto parts supplier First Brands borrowed heavily from private credit funds. The Swiss bank UBS is affected as well — more than half a billion.

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Tages-Anzeiger

Explosive setback for UBS: After Greensill and Archegos, the next financial scandal looms – UBS is affected as well

The Swiss bank has invested more than $500 million in the insolvent auto parts supplier First Brands. The case raises uncomfortable questions. Here are the key answers.

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The Wall Street Journal

First Brands Bankruptcy Damage Spreads to Jefferies, UBS

Banks are sifting through their exposure to the bankrupt auto-parts supplier and its chain of customers and suppliers.

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