(Bloomberg) -- The Swiss government will be entitled to ask UBS Group AG to adjust its plans for management of the assets covered by a 9 billion Swiss franc ($9.9 billion) loss guarantee, following the completion of the bank’s takeover of Credit Suisse Group AG. 

The government will have a seat on a newly-formed oversight committee and may adjust its rights in relation to the so-called Loss Protection Agreement “in the event of a breach” by UBS, according to a US regulatory filing published Tuesday by the bank. 

The historic takeover is expected to close next week, following almost three months of uncertainty for more than 100,000 employees at the two lenders. The state’s guarantee for potential losses on some of Credit Suisse’s hard-to-value assets has been a sticking point in negotiations. 

UBS said in the filing that it expects the terms of the Loss Protection Agreement to be finalized by June 7. UBS is obliged to bear the first 5 billion francs of losses, with the state agreeing to back 9 billion francs worth after that. 

UBS said any loss guarantee beyond that would require “a separate legal basis in the form of a parliamentary approval in the ordinary legislative procedure as well as the commitment credit.” 

If that’s not available, UBS may be responsible for the further amount, it said. An agreement between the government and UBS for losses beyond 14 billion francs “would also be expected to provide for the sharing of possible profits,” according to the filing.

The deal, agreed in March with the backing of the Swiss government amid fears that the smaller competitor was hurtling toward failure, will reshape the global battle for the lucrative business of managing elite wealth. It will create a megabank that not only dwarfs every other Swiss lender but is double the size of the nation’s economy.

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