UBS is set to revise its recovery and emergency plans following the acquisition of Credit Suisse, as mandated by FINMA. The Swiss Financial Market Supervisory Authority has deferred the yearly approval of these plans, citing the need for UBS to enhance its integration efforts to ensure resolvability.FINMA has identified obstacles stemming from the merger that affect UBS's solvency as of December 31, 2023, and is urging the bank to improve its crisis readiness. Meanwhile, UBS has reaffirmed its long-standing partnership with the Mercedes-AMG PETRONAS Formula One Team, emphasizing shared values of innovation and teamwork.
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