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UBS CEO Sergio Ermotti has urged authorities to enhance early warning systems to better identify banking issues, following the collapse of Credit Suisse. He emphasized the need for caution in new regulations, advocating for public stress tests to assess financial institutions' vulnerabilities and supporting reforms on compensation recovery for negligent actions. Clarity on capital requirements is anticipated in May, though Ermotti noted UBS's lack of influence over the political process.
UBS CEO Sergio Ermotti has called for improved early warning systems to enhance bank safety, emphasizing the need for authorities to better detect potential issues. He supports the government's reform proposals but warns against excessive capital requirements that could disadvantage UBS and the Swiss financial sector. Ermotti anticipates more clarity on capital requirements by May, while advocating for accountability measures for negligent individuals in the banking industry.
UBS CEO Sergio Ermotti emphasized the need for improved early warning systems to enhance banking safety, following the collapse of Credit Suisse. He advocated for prudent regulatory measures and supported public stress tests to identify financial institutions' vulnerabilities. Ermotti also highlighted the importance of accountability in cases of negligence, while awaiting clarity on capital requirements in May.
Swiss Finance Minister Karin Keller-Sutter stated that the government will not be influenced by UBS's intense lobbying while drafting new financial regulations following Credit Suisse's collapse. She emphasized the need for higher capital requirements for major banks to protect taxpayers and ensure that systemically important banks like UBS are resolvable in a crisis. Keller-Sutter confirmed ongoing communication with UBS's management but reiterated that the government's role is to balance public interests with the banking sector's proposals.
Swiss Finance Minister Karin Keller-Sutter stated that the government will not be influenced by UBS's intense lobbying as it revises financial regulations following Credit Suisse's collapse. She emphasized the need for new capital requirements to protect taxpayers and ensure that systemically important banks like UBS can be resolved in a crisis. Despite UBS's opposition, Keller-Sutter reaffirmed the government's commitment to tightening capital rules for major banks.
The Swiss National Bank has called for improvements in the capital regime of the banking sector following the 2023 collapse of Credit Suisse, which was taken over by UBS. The government is considering stricter regulations, particularly regarding UBS's capital requirements for its foreign subsidiaries, despite UBS arguing that it is already well-capitalized compared to global peers. The SNB noted positive market indicators for the integration of Credit Suisse into UBS, while also highlighting ongoing risks in the mortgage and real estate markets.
The Swiss National Bank has called for improved banking regulations following the Credit Suisse crisis, emphasizing the need for stronger capital and liquidity requirements. In response, Switzerland plans to enforce stricter rules, particularly for UBS, which is under scrutiny regarding its capital ratios and the management of its foreign subsidiaries. While UBS is seen as more robust than Credit Suisse prior to the crisis, concerns remain about its integration costs and potential losses from inherited risk positions.
The Swiss National Bank has called for improved banking regulations following the Credit Suisse crisis, emphasizing the need for stronger capital and liquidity requirements. In response, Switzerland plans to enforce stricter rules, particularly for UBS, which is under scrutiny regarding its capital ratios and the management of its foreign subsidiaries. While UBS is deemed more robust than Credit Suisse pre-crisis, concerns about integration costs and potential losses from Credit Suisse's risk positions could impact its financial stability.
The Swiss National Bank is advocating for stricter banking regulations following the Credit Suisse collapse and its acquisition by UBS. While UBS is deemed well-capitalized compared to global peers, debates continue over the adequacy of its capital ratios, particularly concerning foreign subsidiaries. The SNB acknowledges UBS's robust position but warns of substantial loss potential due to integration costs and risks from Credit Suisse's legacy.
Swiss Finance Minister Karin Keller-Sutter stated that the government will not be influenced by UBS's intense lobbying while revising financial regulations following Credit Suisse's collapse. She emphasized the need to protect taxpayers and ensure that systemically important banks like UBS are resolvable in a crisis. Keller-Sutter also clarified that she has engaged with UBS management but will not adopt their proposals without considering broader public interests.
Dave Graham
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