UBS steps up contingency planning as it tries to tame Swiss rules
UBS is briefing senior staff that the need to examine moving its HQ from Switzerland has grown since the government proposed new capital rules, a source with knowledge of the matter said, while another pointed to London as a favourite alternative. The post UBS steps up contingency planning as it tries to tame Swiss rules appeared first on Reuters Best.
UBS is briefing senior staff that the need to examine moving its HQ from Switzerland has grown since the government proposed new capital rules, a source with knowledge of the matter said, while another pointed to London as a favourite alternative.
Why it matters
The Swiss government proposed reform measures in June that envisage that UBS – as Switzerland’s sole remaining global bank with a balance sheet about double the size of the economy – should capitalise its foreign subsidiaries by 100% rather than 60% currently, to cover potential losses abroad. That could mean the bank has to carry an extra $24 billion in capital.
The post UBS steps up contingency planning as it tries to tame Swiss rules appeared first on Reuters Best.
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