According to a media report Confederation wants to make concessions to UBS on capital requirements
The Swiss government is willing to compromise: according to a media report, the planned capital rules for UBS are to be weakened.
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- According to the news agency Reuters, the Swiss government is planning to relax some of the new capital regulations for UBS.
- The background to this is criticism from UBS, industry associations and politicians who fear competitive disadvantages for the Swiss financial center.
- However, one central regulation - the full capitalization of foreign subsidiaries - is to be retained.
The federal government is likely to weaken parts of the new capital regulations for UBS. This was reported by several people familiar with the process to the news agency Reuters.
Specifically, it is said to be about the valuation of intangible assets such as software or deferred taxes, which would no longer be counted as capital under the current draft. According to Reuters, the government wants to make concessions to UBS here and ease the requirements. How much is still unclear.
This is the Confederation's response to harsh criticism from the big bank, industry associations and parliamentarians, who warned of a competitive disadvantage for the Swiss financial center.
UBS share price rises after report
According to Reuters, however, the Confederation intends to stick to one central demand: Foreign subsidiaries should be fully capitalized in Switzerland.
The Department of Finance emphasizes to Reuters that the decision-making process has not yet been completed. UBS is not commenting.
The news was well received on the stock market: UBS shares rose significantly after the report.
