UBS must revise its plans for wind-up case
Published: Tuesday, Oct 15th 2024, 09:30
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Following the integration of Credit Suisse, UBS must revise its emergency plans for restructuring and liquidation. The financial market supervisory authority Finma announced on Tuesday that the big bank must expand its options in the event of insolvency. The supervisory authority has now suspended the annual approval of the stabilization and emergency plans.
In its press release, FINMA emphasizes that UBS could currently be wound up by means of recapitalization. It also has sufficient so-called "bail-in" capital. However, due to the integration of CS, it currently has to standardize its group structures, processes and IT platforms. In future, UBS will have to revise the liquidity planning and refinancing of the Swiss unit in particular when the emergency plan is activated.
As a globally systemically important bank, UBS must meet special crisis prevention requirements. For example, it must draw up a stabilization and emergency plan, both of which are assessed annually by FINMA. The stabilization plan describes how the bank intends to avert the risk of insolvency on its own. The emergency plan shows how systemically important functions can be maintained if stabilization is not successful.
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