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Finma requires UBS to enhance contingency plan after Credit Suisse integration

Finma has mandated UBS to revise its contingency plan following the integration of Credit Suisse, emphasizing the need for enhanced options for reorganization or liquidation. The authority seeks improvements to ensure stability without taxpayer intervention, while UBS asserts its capacity for crisis management with a robust business model and significant loss-absorbing capacity.
Blick
United States Dollar Credit Suisse Anlagestiftung UBS SA CHE Thomas Meier Christian Kolbé
TradFi, News Article
09:07 15.10.2024

ubs faces regulatory overhaul of stabilization plans after credit suisse integration

UBS's annual approval of its stabilization and contingency plans has been suspended by Finma due to the integration of Credit Suisse, necessitating adjustments to ensure UBS's recovery and liquidation capabilities. The authority emphasized the need for improved liquidity planning and the establishment of legal foundations for potential interventions without taxpayer support, reflecting lessons learned from the recent crisis.
TicinoNews
Credit Suisse Anlagestiftung UBS SA CHE Sergio Ermotti
TradFi, Market Report
09:07 15.10.2024

activists push for UBS exclusion from US pension fund management

Activists, led by economist James S. Henry, are urging the US Department of Labor to revoke UBS's license to manage pension fund assets due to its extensive history of financial crimes, including $20 billion in fines. The scrutiny intensified following UBS's acquisition of Credit Suisse, which also has a troubled record. A rejection of UBS's exemption application could significantly impact the bank's operations in the world's largest pension market.
Tippinpoint.ch
United States Dollar Credit Suisse Anlagestiftung UBS SA USA DEU Beat Schmid James S. Henry Paul Morjanoff Show more
TradFi, News Article
09:06 15.10.2024

ubs group revises emergency plans amid diverse business performance

UBS Group AG, a holding company with diverse business areas, reported that Wealth Management constitutes 54.3% of its income, followed by Investment Bank at 24.9%. As of the end of 2020, the Group managed CHF 525.1 billion in deposits and CHF 387.2 billion in loans, with significant income distribution across North and South America (39.9%) and Europe/Middle East/Africa (20.2%). The average recommendation for UBS shares is HOLD, with a last closing price of 27.98 CHF and an average target price of 28.63 CHF, indicating a potential increase of 2.33%.
MarketScreener
Swiss Franc UBS Group AG CHE
TradFi, Market Report
09:03 15.10.2024

former credit suisse communicator joins leading zurich consultancy as partner

Dominique Gerster, a seasoned communicator with nearly two decades at UBS and Credit Suisse, will join the Zurich consultancy IRF as a partner in November 2024. He brings extensive experience in corporate communications, crisis management, and strategic messaging, having led global communications at Credit Suisse during challenging times. Gerster holds a Master's degree in law and is pursuing an Executive MBA at the University of St. Gallen, set to complete in early 2025.
finews.ch
United States Dollar UBS AG Credit Suisse Anlagestiftung Wirz Group AG TX Group AG Tamedia AG CHE Martin Meier Pfister Dominique Gerster Show more
TradFi, Press Release
09:00 15.10.2024

coinbase shares surge as interest rate cuts and election loom

Coinbase shares are experiencing high demand, driven by expectations of interest rate cuts from the ECB and Fed, alongside supportive measures from China for its economy. As investors eye the upcoming U.S. presidential election, Donald Trump leads Kamala Harris in polls, with the critical $200 mark for Coinbase shares in focus.
IG
Euro United States Dollar PredictIt European Central Bank Legal Entity of Public Law Coinbase Global, Inc. Federal Reserve Bank of Boston N.A. USA Donald Trump Jerome Powell Kamala Harris Show more
Crypto, Market Report
09:00 15.10.2024

swiss national bank explores digital franc to adapt to evolving payment technologies

The Swiss National Bank (SNB) is exploring the introduction of a digital franc to adapt to evolving technologies and the potential rise of digitized assets linked to digital tokens. This central bank currency would facilitate interbank transactions and leverage blockchain technology, but it will not be classified as a cryptocurrency.
@letemps
Swiss Franc SNB & ANB GmbH CHE Antoine Martin
TradFi, News Article
09:00 15.10.2024

UBS required to revise contingency plans after Credit Suisse integration

UBS is required by the Swiss Financial Market Supervisory Authority (Finma) to revise its stabilization and contingency plans following its takeover of Credit Suisse. The integration has revealed the need for enhanced liquidation planning and liquidity measures, particularly in light of lessons learned from past crises. UBS has begun this work, emphasizing its strong loss-absorbing capacity of around $200 billion.
watson.ch/fr
Swiss Franc UBS AG Credit Suisse Anlagestiftung CHE
TradFi, Market Report
09:00 15.10.2024

emerging markets poised for potential gains amid us election and economic shifts

Emerging markets (EM) may see potential upside as US exceptionalism wanes, with UBS forecasting a decline in US nominal GDP growth below 4% next year. This shift could lower the bar for EM, despite its own deceleration, as net portfolio flows into EM face a 20-year low. The upcoming US presidential election could further benefit EM, particularly under a divided government scenario with no new tariffs, potentially leading to a projected MSCI EM index of 1255 by the end of 2025, translating to around 10% total returns. However, challenges remain, including weak global trade, negligible EM risk premia, and potential tariff risks from China.
Investing.com
Chinese Yuan United States Dollar UBS SA CHN USA
TradFi, Market Report
09:00 15.10.2024

finma urges ubS to enhance crisis management plans after credit suisse takeover

Finma has called on UBS to revise its stabilization and contingency plans following its takeover of Credit Suisse, highlighting the need for adjustments to ensure effective reorganization and liquidation of its key businesses. The authority noted that UBS must enhance its liquidation planning and liquidity measures, learning from past crises, while UBS confirmed its commitment to developing these plans further. As of the latest report, UBS maintains a strong loss-absorbing capacity of around $200 billion, despite a slight decline in its share price.
Allnews
Swiss Franc UBS AG Credit Suisse Anlagestiftung CHE
TradFi, Market Report
09:00 15.10.2024
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