UBS Group AG (UBS)
After hours:
- Bloomberg
UBS Weighs Synthetic Risk Transfer Amid Capital Boost Proposals
(Bloomberg) -- UBS Group AG is considering bringing a synthetic credit risk transfer to the market, according to people with knowledge of the matter, amid Swiss reform proposals that could see the bank face higher capital requirements.Most Read from BloombergApple Intensifies Talks With OpenAI for iPhone Generative AI FeaturesPlunging Home Prices, Fleeing Companies: Austin’s Glow Is FadingWall Street Humbled as Fast-Reversing Markets Confound the ProsThe Long, Slow Death of Urban NightlifeJavier
- CNN Business
Switzerland says UBS may need more cash. The bank is fuming
A year after the failure of Credit Suisse, the Swiss government says UBS may have to find as much as $27 billion to absorb potential losses. Now, the giant Swiss lender is hitting back, saying its finances are robust.
- Reuters
UBS flags 'serious' concern about new Swiss capital requirements
UBS executives on Wednesday told shareholders that the bank has major concerns about the Swiss government's recently announced plan to hit the country's largest lender with tougher capital requirements. The government laid out plans two weeks ago for how to police banks deemed "too big to fail" to shield the country from a repeat of the collapse of Credit Suisse, which UBS acquired in a rescue arranged by the authorities and backed by the state. "We are seriously concerned about some of the discussions related to additional capital requirements," UBS Chairman Colm Kelleher said at the bank's annual general meeting in Basel.
