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BusinessResurging · day 7

Swiss Parliament backs 90% capital rule for UBS foreign units

Upper house approves compromise between government's stricter 100% requirement and UBS's preferred convertible debt approach.

newest coverage 10h agosummary written 17h ago8 pieces Newswires

What to know

  • Swiss parliament's upper house voted September 23 to require UBS back 90% of foreign unit value with top-tier CET1 capital, a middle ground between government's 100% demand and UBS's convertible debt preference.
  • UBS rejected the decision, saying it does not constitute a real compromise and signaling the bank will pursue its own long-term strategy.
  • The 90% requirement represents parliament's rejection of both the government's stricter stance and the bank's preferred solution.

UBS Group AG Bank subject to capital requirementsSwiss Government Proposed stricter capital rulesSwiss Parliament (Upper House) Legislative body voting on capital requirements

Swiss Parliament backs 90% capital rule for UBS foreign units
Seeking Alpha

How it unfolded 3 developments, newest first · click a bar or a number to jump articles

Peak 3 pieces in two hours at Yesterday, 4 AM; 8 pieces over 7 days (8 articles) Sep 17, 4 AM — 1 piece · 1 article — Newswires 1Sep 17, 6 AM — quietSep 17, 8 AM — quietSep 17, 10 AM — quietSep 17, 12 PM — quietSep 17, 2 PM — quietSep 17, 4 PM — quietSep 17, 6 PM — quietSep 17, 8 PM — quietSep 17, 10 PM — quietSep 18, 12 AM — quietSep 18, 2 AM — quietSep 18, 4 AM — quietSep 18, 6 AM — quietSep 18, 8 AM — quietSep 18, 10 AM — quietSep 18, 12 PM — quietSep 18, 2 PM — quietSep 18, 4 PM — quietSep 18, 6 PM — quietSep 18, 8 PM — quietSep 18, 10 PM — quietSep 19, 12 AM — quietSep 19, 2 AM — quietSep 19, 4 AM — quietSep 19, 6 AM — quietSep 19, 8 AM — quietSep 19, 10 AM — quietSep 19, 12 PM — quietSep 19, 2 PM — quietSep 19, 4 PM — quietSep 19, 6 PM — quietSep 19, 8 PM — quietSep 19, 10 PM — quietSep 20, 12 AM — quietSep 20, 2 AM — quietSep 20, 4 AM — quietSep 20, 6 AM — quietSep 20, 8 AM — quietSep 20, 10 AM — quietSep 20, 12 PM — quietSep 20, 2 PM — quietSep 20, 4 PM — quietSep 20, 6 PM — quietSep 20, 8 PM — quietSep 20, 10 PM — quietSep 21, 12 AM — quietSep 21, 2 AM — quietSep 21, 4 AM — quietSep 21, 6 AM — quietSep 21, 8 AM — quietSep 21, 10 AM — quietSep 21, 12 PM — quietSep 21, 2 PM — quietSep 21, 4 PM — quietSep 21, 6 PM — quietSep 21, 8 PM — quietSep 21, 10 PM — quietSep 22, 12 AM — quietSep 22, 2 AM — quietSep 22, 4 AM — quietSep 22, 6 AM — quietSep 22, 8 AM — quietSep 22, 10 AM — quietSep 22, 12 PM — quietSep 22, 2 PM — quietSep 22, 4 PM — quietSep 22, 6 PM — quietSep 22, 8 PM — quietSep 22, 10 PM — quietYesterday, 12 AM — quietYesterday, 2 AM — 1 piece · 1 article — Newswires 1Yesterday, 4 AM — 3 pieces · 3 articles — Newswires 3Yesterday, 6 AM — 2 pieces · 2 articles — Newswires 2Yesterday, 8 AM — quietYesterday, 10 AM — quietYesterday, 12 PM — quietYesterday, 2 PM — 1 piece · 1 article — Newswires 1Yesterday, 4 PM — quietYesterday, 6 PM — quietYesterday, 8 PM — quietYesterday, 10 PM — quietToday, 12 AM — quiet 123
Sep 18Sep 19Sep 20Sep 21Sep 22yesterdaynow · 2:08 AM ET
  1. 3

    UBS rejects parliament decision, says it will protect long-term interests

    UBS stated that the Swiss parliament's capital requirement decision is not a compromise and said the bank will focus on protecting its long-term interests rather than accept the ruling.

    “UBS Group AG rejected the latest decision by the Swiss parliament which would impose substantial new capital requirements, saying it will focus on protecting its long-term interests.”
    — UBS Group AG
    1. 3 outlets Swiss upper house votes in favor of UBS backing foreign units with 90% CET1 capital - report

      first by Seeking Alpha, 18h ago · also Bloomberg Markets, Anadolu Agency

      2 more headlines
  2. 2

    Swiss upper house approves 90% CET1 capital compromise for UBS

    Parliament's upper house backed a compromise requiring UBS to back 90% of its foreign units' value with highest-quality CET1 capital—less stringent than the government's 100% proposal but stricter than UBS's preferred convertible debt approach.

    “The plan foresees that the bank must back 90% of the value of its foreign units with the highest-quality capital, known as CET1.”
    — Bloomberg

    1. 3 outlets first by Bloomberg Politics, 22h ago · also WSJ, WSJ Markets · read ↗

  3. 5 days quiet
  4. 1

    Lawmaker withdraws motion to defer UBS capital decision to government

    A Swiss lawmaker withdrew a motion proposing to hand the decision on UBS's capital requirements back to the government, allowing parliament's upper house debate to proceed.

    1. 1 outlet Swiss lawmakers back tougher bank capital rules in blow to UBS

      first by FT, 20h ago

    2. 1 outlet Swiss Parliament to Continue on UBS Bill After Motion Withdrawn

      first by Bloomberg Politics, 6d ago