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Socialist Roger Nordmann and Finance Minister Karin Keller-Sutter emphasize the need for political unity against UBS's influence, advocating for increased equity capital for the bank. While parliament supports this move, concerns arise about potential cost implications for customers, with regional banks poised to benefit if UBS raises prices. The Federal Council backs the capital requirement, asserting it won't necessarily lead to higher costs for Swiss credit operations.
UBS is facing increasing pressure from Parliament to secure more equity, as highlighted in a recent National Council debate regarding the PUK report. SP finance politician Roger Nordmann emphasized the need for politicians to unite and resist allowing UBS to dictate terms, urging for internal compromises rather than concessions to the bank.
The National Council has called for strengthening the role of FINMA and increasing equity requirements for banks following the Credit Suisse collapse. Proposed measures include centralized supervision of audits, enhanced powers for FINMA to enforce decisions, and limitations on capital and liquidity support for large banks. Additionally, the Council seeks to address executive bonuses and improve shareholder power in systemically important companies.
Roger Nordmann delivered an emotional farewell speech to the National Council, emphasizing the need for stronger capital requirements for systemic banks like UBS to prevent future crises. He warned of moral hazard, noting that UBS's reliance on state support could jeopardize the economy. The CEP has proposed several measures to enhance bank supervision, but opposition from the Swiss Bankers Association and UBS's CEO remains a challenge.
The Swiss National Assembly has approved measures to prevent a repeat of the Credit Suisse crisis, emphasizing enhanced powers for banking supervisors and limitations on executive bonuses. The Federal Council will draft revisions to the "Too big to fail" strategy by summer, aiming to strengthen the financial system amid ongoing concerns about potential future crises.
The National Council has approved measures to strengthen the role of FINMA and enhance the own funds of systemic banks following the Credit Suisse collapse. The Parliamentary Commission of Inquiry emphasized the need for better regulation and oversight, particularly for UBS, which absorbed Credit Suisse to avert a financial crisis. Proposed reforms include centralized supervision of audits and the ability for FINMA to impose fines and enforce decisions, with the Federal Council supporting these initiatives while cautioning that future crises may still arise.
The Swiss National Council is set to debate the lessons from Credit Suisse's collapse, focusing on remuneration policies for systemically important banks, particularly UBS. The discussion follows UBS CEO Sergio Ermotti's CHF 14.9 million salary announcement for 2024, amid scrutiny of past bonuses at Credit Suisse. Key issues include adapting "too big to fail" regulations and enhancing financial oversight to prevent future crises.
Karin Keller-Sutter has shifted the decision-making on UBS's capital requirements from the Federal Council to Parliament, delaying the process significantly. The SP has criticized this move, warning of risks to financial stability, while the SVP has retreated from its previous hardline stance on banking regulations. A referendum on the equity issue may follow, but any changes are unlikely before 2027 or 2028.
The Socialist Party is pushing for stricter banking regulations in Switzerland, demanding higher capital requirements and a reduction in UBS's size to mitigate financial risks. They propose freezing executive bonuses and dividends for ten years, banning bank donations to political parties, and considering nationalization during crises. UBS opposes these measures, arguing they would harm its competitiveness and threaten its headquarters in Switzerland.
The Social Democrats have proposed that UBS must hold an additional $40 billion in capital to enhance its safety, citing the need for stronger banking regulations amid concerns of a potential crisis. The plan includes measures for UBS to pay for its state guarantee and to establish clearer internal structures. If parliament weakens the capital requirements, a referendum may be called to ensure stricter rules are enforced.
Roger Nordmann
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
politicians resist UBS influence while pushing for increased bank capital requirements
PostFinance Fonds 3
Credit Suisse Strategic Income I
Zürcher Kantonalbank
Raiffeisenfonds-Wachstum T
DEU
CHE
Urs Rohner
Roger Nordmann
Daniela Schneeberger
Karin Keller-Sutter
Axel Weber
Gerhard Andrey
Alfred Heer
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21:44 19.03.2025
Parliament pushes for increased capital to support UBS's financial stability
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United States Dollar
Credit Suisse Strategic Income I
CHE
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15:31 18.03.2025
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Swiss Parliament enacts measures to prevent future banking crises
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12:23 18.03.2025
Swiss Parliament strengthens FINMA's powers after Credit Suisse collapse
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06:22 18.03.2025
UBS equity capital debate shifts to parliament amid regulatory delays
CHE
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09:42 05.03.2025
Socialist Party pushes for stricter banking regulations amid UBS resistance
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Social Democrats propose 40 billion capital increase for UBS regulation reform
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