UBS CEO Ermotti warns against harsh capital rules ahead of vote
UBS•Chairman and regulators also drawn into debate
His remarks came after UBS Chairman Colm Kelleher said the bank would need to consider its future in Switzerland carefully if the new rules ended up so strict that it cannot compete.
Ermotti also said Swiss financial regulator FINMA and the Swiss National Bank bore some responsibility for Credit Suisse's demise. Neither immediately responded to requests for comment.
Ermotti urges lawmakers to avoid overly strict capital rules
ZURICH, Sept. 20 (Reuters) - UBS Chief Executive Sergio Ermotti warned lawmakers against imposing excessively strict capital requirements on the Swiss bank in an interview published on Sunday, days before a key parliamentary vote.
Switzerland's upper house of parliament is due to decide on Wednesday how stringent new capital rules being drawn up for UBS after the 2023 collapse of Credit Suisse should be.
