UBS Opposes Proposed Capital Requirements For Foreign Subsidiaries
The bank is resisting stricter capital requirements, specifically those targeting the capital adequacy of its foreign subsidiaries. This follows the Swiss Federal Council's announcement last week regarding the 'Lex UBS' banking regulations. The bank fears these requirements would create a competitive disadvantage. The Swiss newspaper Der Blick characterized the internal opposition as a conflict between Team Ermotti and Team Karin Keller-Sutter. The relevant Council of States commission intends to delay its decision following a broad hearing held yesterday.
Topics
Developing
- 908d Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore.
- 908d Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.
- 908d Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est.
- 908d Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium.
Sources · 7 independent
SRF 4 News
“Die Bankleitung schreibt, Sie bringen sich weiterhin konst. Debatte über die Reform. Sie wollen aber keinesfalls ihr globales Geschäftsmodell anpassen.”
SRF 1 Switzerland
“Die UBS-Spitze befürchtet einen Wettbewerbsnachteil und lehnt das ab. Die Zeitung Der Blick verdichtet den Widerstand gegen mehr Eigenkapital auf die Schlagzeile Team Ermotti gegen Team KKS.”
Unlock the full story
Get a Pro subscription or above to see the live story progression and the full list of independent sources confirming each event as they happen.
Log in to upgrade