Swiss Finance Minister Karin Keller-Sutter is closely monitoring potential changes in US banking regulation following Donald Trump's election, which is expected to bring about a wave of deregulation.

Keller-Sutter recently met with UK Chancellor of the Exchequer Rachel Reeves in London to discuss the implications of these regulatory shifts on their respective financial centers. They expressed concerns about maintaining competitive positions and emphasized the need for a balance between competitiveness and stability in the financial sector.

Keller-Sutter highlighted the significant size of UBS relative to the Swiss economy compared to major US banks, indicating that Switzerland's starting position is different. Both officials agreed on the importance of addressing these issues within the framework of the Financial Stability Board, as they await further developments in US banking regulations.