After setback in Council of States: The UBS camp is planning a new compromise – the stock exchange is betting on a departure
Civil National Councillors are making another attempt in the dispute over equity. They criticize the "disproportionate additional costs" for the large bank.
The Swiss Federal Council's Finance Minister, Karin Keller-Sutter, has secured a significant victory in the dispute over the UBS bank's equity capital requirements, with the Ständerat voting 33-10 in favor of a hardline approach. However, resistance is forming in the National Council, with several FDP and SVP parliamentarians planning to push for a compromise in the Winter session.
They propose a lower equity capital requirement of 75% for foreign subsidiaries, rather than the 90% approved by the Ständerat. The UBS bank is meanwhile preparing for the possibility of a defeat in the National Council, which could lead to it relocating abroad or being taken over.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
