Swiss minister condemns bid to soften UBS capital requirements
TL;DR Summary
Switzerland’s finance minister Karin Keller-Sutter condemned a parliamentary compromise to ease UBS’s capital requirements, saying it benefits the bank at taxpayers’ expense. The plan would let cheaper AT1 debt partly fund foreign-unit capital, reducing the total CET1 burden from about $20bn, a shift UBS welcomed but Keller-Sutter doubts will survive the legislative process as Parliament weighs post-Credit Suisse reforms.
- Swiss finance minister hits out at move to water down UBS capital plans Financial Times
- Swiss parliamentary committee passes UBS capital concessions Reuters
- UBS Scores Interim Win in Push Against Swiss Capital Demands Bloomberg.com
- UBS Gets a Win in Swiss Capital Battle WSJ
- UBS says parliamentary proposal would still require an extra $13 billion in capital tradingview.com
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