Problematic lobbying Keller-Sutter comments on the dispute with UBS
The relationship between UBS and the Swiss government is characterized by strong tensions in the dispute over banking regulation. Federal Councillor Karin Keller-Sutter criticizes the extent of lobbying, which she has never experienced in this form before.
28.04.2026, 06:28
28.04.2026, 07:49
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- In response to the CS disaster, the Federal Council has adopted a regulatory package that imposes stricter rules on banks.
- According to Finance Minister Karin Keller-Sutter, parliamentarians are under heavy pressure from UBS in connection with banking regulation.
- Such strong lobbying by a private player is rather unusual in Switzerland, she said in a new interview.
According to Finance Minister Karin Keller-Sutter, parliamentarians are under heavy pressure from UBS in connection with banking regulation. Such strong lobbying by a private player is rather unusual in Switzerland, she said in an interview with "Blick"."I have heard from members of parliament who fear that UBS could reduce its donations to their party," said the Federal Councillor. She continued: "You can have different opinions. But it is not the usual style to take such a firm stance against our institutions."
Parliament had dealt intensively with the Credit Suisse crisis, including within the framework of a parliamentary commission of inquiry. Many agree with the content of the Federal Council's objectives, but the pressure is not easy for Parliament. The proposed banking regulation measures are the result of a thorough analysis of the Credit Suisse collapse and are aimed at closing existing loopholes.
The Federal Council has fulfilled its responsibility, now it is Parliament's turn. "At the end of the day, it is a question of which interests prevail: those of the taxpayers or those of UBS," Keller-Sutter continued.
UBS has been resisting the tightening of capital regulations, which it describes as "disproportionate", for some time. It has received support from banking and business associations, as well as from the cantons where the banks are located and the conservative parties.
