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Exclusive-Switzerland and UBS could compromise on capital rules, sources say
['Mon', 'September', 'At P.M. Gmt', 'Min Read']
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UBS has strongly criticised the government's proposed rules - unveiled in June to make the country's banks safer following the 2023 collapse of Credit Suisse - because they would require it to hold $24 billion in additional capital.
One person familiar with the government's thinking told Reuters that Bern could be willing to accept rules that would likely lower the additional capital burden to somewhere around $15 billion.
The finance ministry said the government was sticking to its proposals and had not signalled a willingness to reduce the additional capital burden to about $15 billion.
UBS said it remained opposed to what it called an excessive increase in capital requirements and favoured "targeted, proportionate and internationally aligned" regulatory changes.
Newspaper Schweiz am Wochenende said at the weekend centrist and right of centre political parties were working on a compromise that pointed towards an extra capital burden of $10-15 billion.