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Switzerland has pledged to tighten rules for its only remaining global bank, UBS.
Switzerland plans to require UBS to fully back foreign units with CET1 core capital.
KEY POINTS
- UBS may face $22 billion in extra capital requirements under the proposed rules.
- Government may allow UBS to count less expensive Additional Tier 1 capital towards its buffer.
- Ordinance measures could force UBS to deduct software and deferred tax assets, cutting $11 billion from capital.
- Lawmakers are considering aligning asset deduction rules with EU standards, possibly easing requirements for UBS.
COMPANIES
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