UBS chair suggests Swiss banking giant is not ‘too massive to fail’

Fabrice Coffrini | Afp | Getty Illustrations or photos

UBS Group Chairman Colm Kelleher on Wednesday mentioned that the Swiss bank is “not also massive to fall short,” as he criticized Swiss authorities proposals to bolster its cash specifications.

Kelleher was delivering a speech during the UBS Annual Typical Meeting — the very first this kind of collecting held since the financial institution finished the takeover of its previous rival Credit history Suisse very last summer season.

“UBS is not far too big to fail. UBS is just one of the most effective capitalized banks in Europe, with a sustainable business enterprise model and a corresponding reduced-hazard equilibrium sheet,” Kelleher mentioned.

This is a breaking information tale and will be current shortly.

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