Swiss Parliament Eases Capital Demands for UBS
The upper house of the Swiss parliament has approved a plan to reduce the capital reserves required for UBS, a move intended to ease the integration of the recently acquired Credit Suisse.
Business & Markets • 2 hours ago
Switzerland's upper house of parliament has backed a proposal to lower the capital requirements for UBS, the bank that absorbed Credit Suisse last year. The plan, which passed on Wednesday, adjusts the capital reserve demands originally set by the government.
Under the revised proposal, UBS will be required to hold 90% of the top-tier capital against its foreign subsidiaries. This represents a reduction from the 100% requirement that the government had initially planned. The move aims to facilitate the integration of Credit Suisse's operations into UBS without placing an undue burden on the bank's capital reserves.