Swiss Minister Criticises Softened UBS Rules
Swiss Finance Minister Karin KellerSutter criticised a parliamentary decision to soften proposed capital requirements for UBS. The committee voted to allow cheaper Additional Tier 1 capital, opposing government plans.
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Swiss Finance Minister Karin Keller-Sutter criticized a parliamentary committee's decision on Tuesday afternoon to soften stricter capital rules for UBS GROUP AG-REG, cutting proposed requirements by $20B. The government's original framework aimed to force full foreign-unit capitalization using Common Equity Tier 1 capital. That stricter standard followed the 2023 collapse of Credit Suisse in Switzerland.
