On Friday, the Swiss National Bank (SNB) said it had sold UBS's stabilization fund back. The fund was created by UBS five years ago to bail the bank out during an economic crisis. The asset buyback was worth USD3.762 billion, SNB said.

UBS is an investment banking company located in Switzerland. The bank offers global financial services and has headquarters in Zurich and Basel.

The terms of the agreement would have UBS pay SNB USD1 billion in cash. UBS would also be paying half of the amount remaining on the acquisition price. The Swiss central bank said the repayment by UBS would be a positive impact on the bank's annual result this year.

In 2008, SNB, the government of Switzerland and the state financial markets watchdog implemented financial measures in order to bail out the biggest bank in Switzerland. The measures included SNB absorbing some of UBS' illiquid assets, which later one became profitable. The said assets were worth USD39 billion.