Swiss government proposes tough new capital rules in major blow to UBS

Key Points

The Swiss government proposed strict new capital rules that would require banking giant UBS to hold an additional $26 billion in core capital.
The measures would also mean that UBS will need to fully capitalize its foreign units and carry out fewer share buybacks.
The Swiss National Bank said it supported the measures from the government as they will “significantly strengthen” UBS’ resilience.

Source

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