The Swiss National Bank called on Tuesday for an overhaul of bank capital regulations, saying that Switzerland needed rules that recognise UBS has become a bank with even more systemic importance following its takeover of Credit Suisse. In its annual report, the SNB also said it would accept some forms of credit as collateral from banks wanting to access cash in an emergency, a significant move that is designed to ensure banks do not run out of cash in a crisis. Last year, the SNB said Credit Suisse's lack of collateral accelerated the bank's collapse.
UBS Group (UBS) seeks merger and acquisition opportunities in the United States to expand its wealth management footprint in the country.
Swiss banking giant UBS will look for merger and acquisitions opportunities in the United States in the years to come, its chairman told the NZZ newspaper on Sunday. UBS, which took over former rival Credit Suisse last June, wants to expand its U.S. wealth-management business through potential M&A in three or four years, Colm Kelleher said. Since rescuing Credit Suisse, UBS has faced criticism over a $1.6 trillion-plus balance sheet that is nearly twice the size of the Swiss economy and has prompted the country to review its regulation of systemically important banks.