UBS CEO Sergio Ermotti said a Swiss proposal requiring the bank to back foreign subsidiaries with 90% Common Equity Tier 1 capital offers little meaningful…
UBS CEO Sergio Ermotti said a Swiss proposal requiring the bank to back foreign subsidiaries with 90% Common Equity Tier 1 capital offers little meaningful compromise from the government's original 100% proposal. Ermotti instead backed a parliamentary committee alternative allowing 50% CET1 and 50% Additional Tier 1 capital. The dispute comes ahead of a parliamentary vote and could materially affect UBS's capital requirements and shareholder distributions. This development advances an existing Piplix newsroom story and should be treated as an update rather than a duplicate.
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