UBS Shares Surge as Swiss Government Proposes Stricter Capital Regulations
TL;DR Summary
UBS shares rose 4.5% after the Swiss government proposed new capital regulations requiring UBS to hold an additional $26 billion in core capital, following its takeover of Credit Suisse. The regulations are expected to be phased in by 2034, allowing UBS to lobby for concessions. The move aims to strengthen the bank's financial position amid recent banking sector turbulence, and negotiations for adjustments are already underway.
- UBS shares rise 4.5% after Swiss government proposes tough new capital rules CNBC
- Swiss government proposes tough new capital rules in major blow to UBS CNBC
- UBS Faces $26 Billion Capital Demand From Swiss Bank Reforms Bloomberg
- Switzerland proposes forcing UBS to add $18bn in capital Financial Times
- UBS buybacks may be hit by new capital rules: government Yahoo Finance
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