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Swiss government publishes draft legislation for stricter regulation of UBS.
Swiss draft law requires UBS to fully back foreign subsidiaries with CET1 capital, up from 60%.
KEY POINTS
- UBS will have a seven-year transition period to comply with new capital requirements.
- Capital requirement increase for UBS is now $20 billion, lower than the previously considered $26 billion.
- New rules on capital backing for software and deferred tax assets take effect January 1, 2027.
- A potential referendum on these UBS capital rules could delay implementation until after 2028.
COMPANIES
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