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ubs ordered to enhance emergency plans after credit suisse takeover

The Swiss financial regulator has mandated UBS to enhance its emergency and recovery plans following its acquisition of Credit Suisse, which collapsed last year. Finma has suspended UBS's annual resolution strategy approval, emphasizing the need for improved crisis preparations and options for action to ensure stability without taxpayer support. The regulator is also focusing on liquidity management and the impact of social media on bank outflows, reflecting lessons learned from the Credit Suisse crisis.
@FinancialTimes
United States Dollar Credit Suisse Anlagestiftung UBS SA CHE Joe Biden Roula Khalaf
TradFi, News Article
10:27 15.10.2024

ubs urged to enhance contingency plans after credit suisse crisis

The Swiss stock exchange regulator, Finma, has urged UBS to enhance its contingency plans following the Credit Suisse crisis, which revealed the need for improved crisis preparedness among systemically important banks. UBS has begun refining its plans to ensure uninterrupted operations and better liquidity management in case of insolvency risks. The regulator emphasized the importance of robust liquidity measures to address rapid deposit withdrawals, a key issue highlighted by the recent banking turmoil.
usinenouvelle.com
United States Dollar Credit Suisse Anlagestiftung UBS SA CHE Oliver Hirt Tommy Reggiori Wilkes
TradFi, News Article
10:22 15.10.2024

ubs faces regulatory scrutiny over revised emergency plans after credit suisse integration

UBS is required by the Swiss Financial Market Supervisory Authority (Finma) to revise its emergency restructuring plans following the integration of Credit Suisse. The bank must expand its options for insolvency, including the potential sale or shutdown of individual businesses, as the current strategy only allows for reorganization. As a globally systemically important institution, UBS must ensure its stabilization and emergency plans are robust and effective in crisis prevention.
finanzbusiness.de
Credit Suisse Anlagestiftung UBS SA CHE Finma
TradFi, News Article
10:21 15.10.2024

ubs required to update emergency plans after credit suisse integration

UBS Group AG is required to revise its emergency recovery and resolution plans to incorporate the integration of Credit Suisse, as mandated by Swiss financial supervisor Finma. The regulator emphasized the need for enhanced liquidity planning and crisis preparedness, particularly in light of the rapid client fund withdrawals experienced during Credit Suisse's collapse. UBS has acknowledged the need for these adjustments and is already working on them, asserting its compliance with current resolution requirements.
@YahooFinance
United States Dollar Credit Suisse Anlagestiftung UBS Group AG CHE
TradFi, News Article
10:19 15.10.2024

layoffs announced at rts as part of 2025 savings plan

On October 17, 2024, RTS announced 19 layoffs as part of its 2025 savings plan. In other news, former One Direction frontman Liam Payne tragically died at 31 after falling from a hotel. Additionally, Switzerland will provide three demining vehicles to Ukraine, and UBS has been instructed by FINMA to revise its contingency plans following the Credit Suisse crisis.
TVS tvsvizzera.it
Credit Suisse Anlagestiftung Nestlé S.A. UBS SA UKR CHE RUS GEO Sergio Ermotti Laurent Freixe Viola Amherd Liam Payne Show more
TradFi, News Article
10:17 15.10.2024

ubs maintains positive outlook for s&p 500 targeting 6200 by june 2025

UBS maintains its S&P 500 price target at 6,200 by June 2025, citing a positive outlook for AI beneficiaries and quality stocks. Despite a projected slowdown in Q3 earnings growth to 5-7%, the macro environment remains favorable, with healthy economic activity and low job layoffs. The strategists expect continued robust growth from major tech companies, driven by AI investments, while noting that management guidance will be crucial during the earnings season.
Investing.com
United States Dollar UBS SA USA UBS strategists Show more
TradFi, Market Report
10:15 15.10.2024

finma requires ubS to revise emergency plans after credit suisse takeover

Finma has mandated UBS to revise its stabilization and contingency plans following its acquisition of Credit Suisse, highlighting the need for improved liquidation strategies. While UBS maintains a strong loss-absorption capacity, it must enhance its liquidity planning and response measures to better address potential crises. The bank has already initiated this development process.
@lenouvelliste
United States Dollar UBS AG Credit Suisse Anlagestiftung CHE
TradFi, Market Report
10:14 15.10.2024

Finma demands UBS to enhance crisis management and resolution planning

UBS is required to revise its emergency planning following the Credit Suisse crisis, as mandated by the Swiss Financial Market Supervisory Authority (Finma). The authority deems UBS's current resolution strategy inadequate and expects the bank to expand its options for action in case of insolvency risk, including the potential sale or shutdown of business segments. UBS has already begun working on its resolution planning to enhance crisis preparedness.
handelsblatt.com
United States Dollar Credit Suisse Anlagestiftung UBS SA CHE
TradFi, News Article
10:07 15.10.2024

Finma orders UBS to revise emergency plans after Credit Suisse takeover

Finma has mandated UBS to revise its stabilization and contingency plans following its acquisition of Credit Suisse. The authority believes that the integration necessitates adjustments to ensure the bank can effectively reorganize and liquidate its three core businesses. Consequently, the annual approval of these plans has been suspended.
agefi.com
Credit Suisse Anlagestiftung UBS SA CHE
TradFi, News Article
10:02 15.10.2024

ubs urged to enhance contingency plans amid insolvency concerns

Swiss financial market regulator FINMA has instructed UBS to enhance its contingency plans to better prepare for potential insolvency risks. The regulator has paused the annual assessment of these plans while UBS reviews its strategies, emphasizing the need for improved crisis preparedness following the Credit Suisse crisis.
Zonebourse
Credit Suisse Anlagestiftung UBS SA CHE
TradFi, News Article
09:48 15.10.2024
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