Switzerland's top two banks took emergency measures to shore up their finances on Thursday, with the state taking a 10 percent stake in UBS while Credit Suisse raised new funds from private investors.

UBS is getting 6 billion Swiss francs or 5.3 billion dollars from the state, while Credit Suisse Group said it would raise 10 billion francs from investors, including Qatar.

UBS will also unload 60 billion dollars of toxic assets into a new fund controlled by the Swiss National Bank.

Shares in both banks recovered from sharp early falls, outperforming European banks.

UBS, which has been more badly hit in the current crisis, made a small net profit of 296 million francs in the third quarter but admitted client withdrawals had accelerated.

The Swiss government said it would make demands on corporate governance and risk controls. It did not want to hold the stake for years.

Israel’s Koor Industries said on Monday it would invest 1.2 billion francs in Credit Suisse in exchange for a 3 percent stake in the bank.

UBS said the steps should help reverse the outflow of client assets as its wealth management business continued to see big withdrawals in the third quarter.