Swiss Senate delays vote on UBS banking rules
Switzerland delayed a parliamentary vote on stricter capital rules for UBS. The government seeks tighter regulations following Credit Suisse, while UBS warns of high costs.
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Switzerland's upper house delayed a vote on stricter capital rules for UBS GROUP AG-REG until next week after an extended parliamentary debate on Thursday afternoon. The legislative delay extends months of negotiations over government proposals drafted in response to the 2023 collapse of Credit Suisse. The stricter framework aims to protect taxpayers, but the bank argues the higher capital demands will hurt its international competitiveness.
