Analysis-Swiss Banking Plan Leaves Relieved UBS Out of Immediate Firing Line usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
UBS could take years to feel the bite of new regulations after the Swiss government set out plans aimed at keeping the "monster bank" in line that were light on detail and heralded a tortuous political process to enshrine them in law. Shares in the Zurich-based lender took a knock on Wednesday after the finance ministry said its "too big to fail" recommendations envisaged tougher capital requirements for UBS and other systemically important banks following the rescue of its stricken rival Credit Suisse in 2023. "The measures proposed by the Federal Council are not enough to finally regulate the banking sector effectively," said Cedric Wermuth, co-leader of the centre-left Social Democrats (SP), the second-biggest party in the Swiss parliament.
UBS could take
years to feel the bite of new regulations after the Swiss
government set out plans aimed at keeping the monster bank in
line that were light on detail and heralded a tortuous.
UBS could take years to feel the bite of new regulations after the Swiss government set out plans aimed at keeping the “monster bank” in line that were light on detail and heralded a tortuous political process to enshrine them in law.
Switzerland moved rightwards in an election on Sunday, giving the right-wing Swiss People's Party (SVP) more seats in parliament as concerns about rising immigration outweighed those about the environment, final results showed on Monday. While the change is unlikely to alter the make up of the country's governing Federal Council…