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The U.S. is investigating Russian accounts that UBS acquired from Credit Suisse, following the latter's collapse in March 2023. The Office of Foreign Assets Control (OFAC) has engaged with UBS regarding these accounts amid heightened scrutiny due to sanctions related to Russia's actions in Ukraine. UBS is reportedly taking steps to mitigate potential penalties by isolating questionable funds and closing certain accounts.
The European Central Bank is urging Raiffeisen and UniCredit to maintain capital reserves to mitigate risks associated with their operations in Russia, where they lack effective control. This move may lead to adjustments in the banks' capital requirements, reflecting their exposure to both Russian market risks and risky commercial real-estate loans. Raiffeisen has indicated that its capital requirements will increase starting next year, highlighting the ongoing challenges of operating in Russia post-invasion of Ukraine.
The European Central Bank is urging Raiffeisen and UniCredit to maintain capital reserves to mitigate risks associated with their operations in Russia, where they lack effective control. This move may lead to adjustments in the banks" capital requirements, reflecting their exposure to both Russian market risks and risky commercial real-estate loans. Raiffeisen has acknowledged an increase in capital requirements starting next year, highlighting the ongoing financial implications of their presence in Russia nearly three years after the invasion of Ukraine.
John O’Donnell
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
us investigates ubss handling of russian accounts from credit suisse acquisition
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23:28 12.11.2024
ECB urges Raiffeisen and UniCredit to bolster capital for Russia risks
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21:20 08.11.2024
ECB urges Raiffeisen and UniCredit to bolster capital for Russia risks
Euro
Russian Ruble
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UniCredit S.p.A.
RUS
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Valentina Za
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15:37 08.11.2024
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