IMF Backs Swiss Plan Requiring UBS to Fully Capitalize Foreign Units With CET1
Updated
Updated · Bloomberg · Jun 25
IMF Backs Swiss Plan Requiring UBS to Fully Capitalize Foreign Units With CET1
3 articles · Updated · Bloomberg · Jun 25
Summary
James Walsh, the IMF’s mission chief for Switzerland, said the fund “strongly” supports Bern’s proposal to make UBS fully back its foreign units with high-quality CET1 capital at the parent bank.
The endorsement targets Switzerland’s plan to force UBS to hold significantly more capital, tightening safeguards around the lender’s overseas operations.
IMF backing adds weight to the Swiss government’s push for tougher bank resilience rules as UBS faces stricter post-Credit Suisse oversight.