UBS Group Says Today's Decision By Council Of States Would Result In A Further Excessive Tightening Of Swiss Capital Requirements
UBS•UBS says Swiss capital decision would tighten requirements further
Sept. 23 (Reuters) - UBS Group AG:
- If confirmed at conclusion of ongoing parliamentary process, today's decision by Council of States would result in a further excessive tightening of Swiss capital requirements.
- Political outcome is not a compromise and fails to address root causes of Credit Suisse collapse.
- If decision by Council of States is confirmed, UBS would be required to hold a total of around $33 billion of incremental CET1 capital since acquisition of Credit Suisse.
- As parliamentary process continues, UBS will focus on protecting its long-term interests.
