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Early this morning, Swiss bank UBS (NYSE: UBS) announced that it lost $1.02 billion more than it earlier reported -- thanks to a recent settlement with U.S. authorities. A write-down of assets transferred to the Swiss National Bank also contributed to the wider-than-reported loss.According to MarketWatch, UBS's loss totaled 20.89 billion francs compared to its earlier reported loss of 19.7 billion francs. UBS's CEO added that the bank's balance sheet is still vulnerable to "illiquid and volatile markets," leaving its earnings "at risk for some time to come."
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