UBS Pays €835 M France Tax Settlement and $300 M DOJ Accord
UBS agreed in September 2025 to pay €835 million to settle a French tax dispute over its 2004–2012 cross-border operations and in August 2025 paid $300 million to the U.S. Department of Justice for legacy Credit Suisse mortgage-backed securities issues.
1. French Tax Case Settlement
In September 2025, UBS agreed to pay €835 million to resolve a French tax dispute covering its cross-border business activities between 2004 and 2012. The settlement addresses claims of underpaid taxes and interest arising from the bank’s European expansion prior to its acquisition of Credit Suisse.
2. U.S. DOJ Mortgage-Backed Securities Accord
In August 2025, UBS paid $300 million to the U.S. Department of Justice to settle a legacy matter related to Credit Suisse’s mortgage-backed securities issuances. This payment concluded an investigation into potential misrepresentations in bond offerings leading up to the 2008 financial crisis.
3. Financial Impact and Outlook
The combined €835 million and $300 million charges were covered by existing provisions, limiting effects on tangible book value and capital ratios. With these major legacy issues closed, UBS can refocus on growth initiatives and maintain its common equity tier 1 ratio comfortably above regulatory requirements.