UBS criticises parliamentary decision backing stricter capital rules
UBS•UBS objects to Swiss parliament's stricter capital vote
ZURICH, Sept. 23 (Reuters) - UBS on Wednesday criticised a vote by the Swiss upper house of parliament in favour of new capital rules that would make the bank back its foreign units with 90% Common Equity Tier 1 (CET1) capital, calling the requirement excessive.
"This political outcome is not a compromise and fails to address the root causes of the Credit Suisse collapse," the bank said of the step, which is part of a set of measures being drawn up in response to the 2023 demise of Credit Suisse.
