UBS global units must be backed by ‘hard capital’: SNB

Swiss banking giant UBS should be required to fully back its units abroad with highest-quality equity capital in Switzerland, a senior central bank official reiterated. At a time when lawmakers are discussing potentially watering down such a requirement, Swiss National Bank (SNB) vice-president Antoine Martin said that the government’s tougher proposal on the matter remains optimal. +How to tame UBS without making the bank toothless “Measures proposed by the Federal Council, in particular the...

By swissinfo.ch