Oct. 17, 2009 (United Press International) -- Bailout measures by the Swiss government have succeeded in propping up Swiss bank UBS (NYSE:UBS) , regulators say.

Even with the ailing bank showing second-quarter losses of $1.37 billion, the $5.88 billion bailout was deemed a success Friday by Eugen Haltiner, president of regulatory body Finma (the Swiss Financial Market Supervisory Authority), Swiss Radio reported.

"UBS is certainly now in a more stable situation that it was a year ago," he said.

The broadcaster said Haltiner's assessment reinforced that of Swiss parliamentary finance commission president Fabio Abate, who determined in August that UBS would not need any further state aid because "the fire is out."

The regulator warned, however, that UBS and other major banks were still vulnerable to possible future shocks that could derail an economic recovery.