UBS Gets Sign of Support from Swiss Lawmakers in Capital Row
Swiss lawmakers criticized a government proposal on parts of new capital rules affecting UBS Group AG, signaling support in parliament for a softer stance on the country’s largest bank.
The lower house’s economy and taxation committee voted in favor of sending a letter to the government, following a debate on capital quality rules.
“Care should be taken not to exceed international standards and common practice in competing financial centers,”
lawmakers said in the letter, adding that stricter regulations must ensure a competitive cost-benefit ratio of the Swiss capital regime.
Author's summary: UBS receives support from Swiss lawmakers.
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