Frankfurt, June 13 – UBS has wrapped up a SFr16bn ($15.4bn) rights issue, the Swiss bank’s second effort to resuscitate finances that have been ravaged by the global markets crisis.

It is the latest in a line of major banks including Britain’s Royal Bank of Scotland and HBOS and France’s Crédit Agricole to go cap in hand to shareholders. In total, European banks are raising more than $40bn from shell-shocked investors.