UBS capital requirements: no from bankers and Economiesuisse
Keystone-SDA
The Swiss Bankers Association (SBA) strongly opposes the extra capital requirements for UBS being demanded by the government.
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According to the SBA, the measures unnecessarily further risk tightening the already stringent Swiss requirements.
In a position statement today, director Roman Studer calls for an overview to avoid “duplication and unnecessary burdens”. The organisation also argues that such regulations, although targeted at UBS, would create a structural competitive disadvantage for the entire Swiss financial centre, increasing costs and weakening the real economy.
The SBA therefore urges the consideration of proportionate and internationally coordinated alternatives.
The Swiss Business Federation (economiesuisse) is also on the same wavelength. “The planned tightening of banking regulation risks increases the cost of credit and weakens the Swiss financial centre,” it argues. “The capital and liquidity requirements are certainly reasonable, but policymakers must not overlook their consequences for the real economy.”
The reactions of the SBA and economiesuisse are part of the consultation procedure for the Federal Council’s draft, which ended on Friday. Various parties – as has already emerged – also raised criticism.
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Proposal for stricter capital requirements for UBS faces opposition
Adapted from Italian with AI/mga
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