UBS Group CEO Calls for Better Capital Rules Ahead of Swiss Government's Wednesday Vote

MT Newswires Live
Sep 22

UBS Group (UBS) is calling for better capital rules, noting that the proposal for it to back foreign units with a 90% common equity tier 1 capital is "de facto the same" as the Swiss government's suggested 100% CET1 capital, according to a FactSet transcript of remarks from UBS Chief Executive Sergio Ermotti at a Tuesday event.

The Swiss government is set to vote on new capital rules for UBS on Wednesday, according to Reuters.

Ermotti said the 90% and 100% CET1 capital has a difference of about $4 billion.

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