UBS supports “most” proposals to strengthen the financial center
Published: Friday, Dec 20th 2024, 11:50
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The big bank UBS acknowledges the report of the Parliamentary Investigation Committee (PUK) on the collapse of Credit Suisse in March 2023. It confirmed that CS collapsed as a result of years of poor strategic decisions, mismanagement and dependence on substantial regulatory concessions.
UBS supports "most" of the Federal Council's proposals to strengthen the resilience of the financial center, the big bank continued. However, any adjustments to the regulatory requirements must be "targeted, proportional and internationally coordinated".
Financial stability and the resulting economic costs must be balanced. The big bank also points out that it will have to hold around 20 billion dollars in additional capital as a result of the acquisition of Credit Suisse.
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