UBS Equity

UBS Equity has developed from 3rd quarter to 4th quarter 2007 like this (in CHF million; goodwill assumed to be unchanged):

                     4q2007  3q2007
Goodwill and other    14990   14990
  intangible assets
Equity attributable   35585   48229
  to UBS shareholders
Tangible equity       20595   33239

Autsch, tangible equity went down -38 % in just three months! With more than 2 trillion in assets on the balance sheet, equity is now less than 1 %. The 13 bia injection should be highly welcomed.