Swiss minister voices disappointment over parliamentary step to soften UBS rules

BASEL, Switzerland, Sept. 1 (Reuters) - Swiss Finance Minister Karin Keller-Sutter on Tuesday expressed disappointment at a decision by a parliamentary committee on Monday to soften stricter capital rules proposed by the government for UBS after the 2023 collapse of Credit Suisse.

Speaking to reporters in Basel, Keller-Sutter said the step was not in accordance with what the government wanted.

UBS acquired Credit Suisse following the demise of its longtime rival and Keller-Sutter has pushed hard for tougher rules to be introduced in order to protect taxpayers and avert the risk of another bank unravelling.