UBS (UBS) has restarted talks about ways to move the bank out from under Swiss regulators' jurisdiction, including through a possible combination with a foreign bank, Semafor reported Friday, citing people familiar with the matter.

Earlier this week, UBS was dealt a blow when the upper house of Switzerland's parliament voted to tighten the country's capital requirements, media outlets reported.

If implemented, the requirement would oblige UBS to back its foreign participations with CET1 capital equal to 90% of their value.

UBS said this would require about $16 billion in additional CET1 capital, on top of roughly $2 billion in additional CET1 capital required under ordinance-level measures announced earlier this year.

UBS did not immediately respond to a request for comment from MT Newswires.

Shares of UBS were up 2.5%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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