fintech / news / / New York Post
Swiss government wants to prevent another taxpayer-funded bailout like the 2023 Credit Suisse collapse.
Swiss authorities ordered UBS to set aside an extra $20 billion in safety reserves.
KEY POINTS
- UBS must now fully back all foreign subsidiaries, up from the previous 60% requirement.
- Implementation of the new rules is delayed until January 2027 with some softened demands.
- UBS claims the new capital safeguards could shrink Switzerland's economy by up to 3.9% over a decade.
- Swiss finance minister rejected claims these rules would force UBS to move its headquarters abroad.
COMPANIES
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