** Shares in UBS Group UBSG.S drop 3.5%
** Bofa Global Research cuts to "underperform" from "neutral" citing uncertainties over the new regulatory framework
** The Federal Assembly in May is likely to propose a full deduction of foreign subsidiaries from capital, which will result in a $20-25 billion capital bill, the brokerage says
** "We expect a long grandfathering period as this legislative process would not reach its final stage until 2027," Bofa adds
** The 2023 collapse of Credit Suisse was a watershed for Switzerland, leaving it with just one global lender and prompting regulators to demand it hold more capital to make the industry safer
** Out of 20 analysts, ten rate the stock "strong buy" or "buy, "six rate it "hold" and four "strong sell" or "sell"
(Reporting by Anastasiia Kozlova)
((Anastasiia.Kozlova@thomsonreuters.com))
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