传瑞银(UBS.US)拟推SRT交易挂钩10亿美元企业贷款,应对资本监管压力

智通财经
Oct 07, 2025

智通财经APP获悉,据知情人士透露,瑞银(UBS.US)正就重大风险转移方案与投资者展开试探性沟通,拟通过与公司贷款组合挂钩的结构性工具SRT缓解严格资本监管压力。该知情人士称,该行考虑将结构性风险转移(SRT)与10亿美元贷款组合关联,SRT规模或达参考投资组合的12.5%左右。因交易尚处初期阶段,具体条款及规模仍存变数,瑞银方面对此拒绝置评。

另据透露,瑞银还在推进另一宗与20亿瑞郎(约25亿美元)贷款组合挂钩的SRT交易,拟通过J-Elvetia平台发行相关票据。值得注意的是, J-Elvetia 是瑞银在收购瑞信之前,瑞信用来发行 SRT 票据的平台之一。

据了解,SRT机制允许银行通过发行信用挂钩票据向养老金、主权财富基金及对冲基金转移贷款违约风险,从而释放满足监管要求的资本。

此次SRT计划出台背景是瑞士政府推动的银行业改革,该改革可能使瑞银现有资本需求增加最高260亿美元,旨在防范类似瑞信危机的风险事件再次发生。

据调查显示,全球SRT市场未来两年预计将以年均11%的速度增长,欧洲银行是主要推动力量,包括桑坦德银行、Banco BPM及德意志抵押债券银行(Deutsche Pfandbriefbank)等机构均在讨论或推进相关交易。

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