Follow @dorgang

Follow @snbchf

Home › 3) Swiss Markets and News › 3.) Swissinfo Business and Economy › UBS boss rejects stricter capital requirements

Previous post Next post

UBS boss rejects stricter capital requirements

Published on January 31, 2025

See on Internet Archive

by
Swissinfo
My articles My site About me My videos My books
Follow on:Twitter Facebook Google +

UBS boss rejects stricter capital requirements — UBS: Ermotti reiterates no to stricter capital requirements Keystone-SDA

Generated with artificial intelligence.

UBS CEO Sergio Ermotti has again spoken out against the idea of requiring the bank to have more capital.

This content was published on January 31, 2025 - 16:23

+ Get the most important news from Switzerland in your inbox

“The current capital requirements are good,” he said at a conference organised yesterday in Zurich by the periodical Finanz und Wirtschaft (FuW).

UBS was able to save Credit Suisse, Ermotti argued. This proved the institution’s capital strength and the fact that Swiss regulation is good enough, if implemented correctly: however, this was not the case for CS, which was granted exemptions by the supervisory authority.

+ Why a monster UBS bank scares Switzerland

According to the Ticino manager, such a thing should not happen again and the focus should be on capital quality. At the same time, however, Switzerland also wants a strong financial centre: the requirements should therefore not make it impossible for UBS to be competitive.

At the political level, among other things, there are discussions about whether systemically important banks should be required to hold up to 100% equity capital for their foreign subsidiaries, compared to UBS’s current 60%. The idea is “absolutely excessive,” Ermotti argued. It makes no sense “to say that our foreign holdings are worthless.”

UBS releases ‘hundreds’ of staff in fresh wave of job cuts

This content was published on Jan 27, 2025 Swiss bank UBS has begun a wave of job cuts in its home market Switzerland, with hundreds of employees receiving notice in recent weeks.

The US, UK and Europe are all going in a different direction, thhe added: perhaps there will not be a huge deregulation, but there certainly will not be a move toward more regulation. The timing is also not ideal for tightening the screws, given the “not so rosy” macroeconomic outlook.

+ How to tame UBS without making the bank toothless

Ermotti went on to reiterate his attachment to the Swiss headquarters: the bank wants to succeed starting in the federal government, he said in response to a question about whether stricter capital requirements could push UBS abroad.

“Part of our success is our Swissness,” he said. And about the collapse of CS and its acquisition by UBS: “We have a great opportunity to turn a tragedy into something good.”

Translated from Italian by DeepL/mga

This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.

If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to [email protected].

Eurovision and bleak world situation are top themes at Basel carnival

This content was published on Feb 21, 2025 The Eurovision Song Contest and the gloomy global situation are among the main themes of Basel Fasnacht (carnival) this year.

Prices of Swiss investment properties continue to rise despite stagnating rents

This content was published on Feb 21, 2025 Although rents in Switzerland stagnated or fell in the final quarter of last year, prices for investment properties continued to rise. Both apartment buildings and office properties have become more expensive.

Hazel and alder pollen count set to rocket in Switzerland

This content was published on Feb 21, 2025 Very high concentrations of hazel and alder pollen are to be expected in some parts of Switzerland in the coming days.

Probe into wrong Swiss pension figures clears federal office

This content was published on Feb 21, 2025 Employees of the Swiss Federal Social Insurance Office (FSIO) did not breach their duty of care when calculating pension prospects, an investigation has concluded.

Ticino hotels record December boom

This content was published on Feb 21, 2025 Hotels in the southern Swiss canton of Ticino welcomed significantly more guests last December than in the same month of the previous year.

Swiss collect over 9,000 tonnes of plastic for recycling in 2024

This content was published on Feb 21, 2025 In 2024, consumers recycled 9,090 tonnes of plastic. More than 600 municipalities in 17 cantons participate in the "Bring Plastic Back" system.

Top Swiss economist urges free trade talks with the US

This content was published on Feb 21, 2025 The head of SECO is pushing for negotiations on a free trade agreement with the US.

Swiss nomadic people were victims of crimes against humanity, says government

This content was published on Feb 20, 2025 The persecution of Sinti and Yenish in Switzerland in the 20th century is a crime against humanity according to current international law.

Swiss court finds ex-Gunvor executive guilty of corruption

This content was published on Feb 20, 2025 The Swiss Federal Criminal Court sentenced a former executive at Gunvor oil trading group to a 24-month suspended prison sentence.

Swiss federal railways offers discounted fares to boost public transport use

This content was published on Feb 20, 2025 For 2025 and 2026, SBB will be offering a total of CHF100 million in discounts on its long-distance Supersaver tickets.

Full story here Are you the author?

About Swissinfo

SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.

My articles My site About me My books
Follow on:Twitter Facebook Google +