{
  "id": 10048516,
  "title": "Nach der Schlappe im Ständerat: Das UBS-Lager plant einen neuen Kompromiss – die Börse wettet auf einen Wegzug",
  "url": "https://urgent.news/2026/09/26/nach-der-schlappe-im-standerat-das-ubs-lager-plant-einen-neuen",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-26T19:45:00.000Z",
  "source": {
    "name": "NZZ Wirtschaft",
    "slug": "nzz-wirtschaft",
    "url": "https://www.nzz.ch/wirtschaft/nach-der-schlappe-im-staenderat-das-ubs-lager-plant-einen-neuen-kompromiss-die-boerse-wettet-auf-einen-wegzug-ld.10025596"
  },
  "original_language": "de",
  "account": "In the aftermath of the setback in the Ständerat, UBS plans a new compromise - the stock market bets on a withdrawal. The forum was attended by UBS CEO Sergio Ermotti and Finance Minister Karin Keller-Sutter, who watched Ermotti's performance from the audience. Ermotti left the building without comment, perhaps already guessing that Keller-Sutter would have the final word at the Ständerat. The Ständerat voted with 33 votes in favor and 10 against, with 2 abstentions, for a hard stance. Keller-Sutter sees herself confirmed by the decisive vote. The Bank is considered \"gone to Tutti\" by the Bundesrat after they called the Bundesrat's proposals \"extremely\" difficult. The opposition is already forming in the liberal section of the National Council. Several FDP and SVP parliamentarians want to correct the course taken in the winter session if the big chamber debates the UBS law as the second chamber. A long-standing council member says the WAK-S commission's failed compromise proposal did not look good. The new goal of the UBS camp is a compromise somewhere between the WAK-S solution (50% equity reserve of foreign subsidiaries) and the Ständerat proposal (90%). UBS FDP National Council Hans-Peter Portmann has already written a proposal he will present to the free-minded Federal Assembly. This proposal suggests raising the domestic equity to 75% instead of 90%. The politician with banking experience says many of his council colleagues want to move away from the two extreme positions: \"There is a desire for a genuine compromise.\" The contentious AT1 crisis bonds remain part of the solution, to strengthen the bank's equity base regardless of the business area where the crisis breaks out. Portmann also calls for capital rules to apply to all systemically relevant banks in Switzerland, not just UBS, including the Zurich Cantonal Bank, Postfinance, and Raiffeisen. FDP National Council Marcel Dobler urges for a new compromise, stating the Ständerat goes too far with the 90% equity reserve. He believes an over-reliance on 100% equity reserve would bring \"unjustified additional costs.\" It's a misconception that 100% equity reserve would provide 100% security in a bank run. Dobler emphasizes he hasn't discussed with his faction colleagues and will form his final opinion after the hearings. \"But if I had to propose a compromise today, I would land with a 75% equity reserve.\" The SVP also presents its stance, with National Council Thomas Matter considering a separate compromise proposal. Matter also calls for the Wirtschaftskommission of the National Council, including Keller-Sutter, UBS, and financial industry representatives, to hear their concerns about the implications of the Ständerat's decision. The UBS itself must now confront its worst-case scenario: defeat even in the National Council. The big chamber is hardly considered as financially friendly as the small one.",
  "summary": "Bürgerliche Nationalräte nehmen einen weiteren Anlauf im Streit um das Eigenkapital. Sie kritisieren die «unverhältnismässigen Mehrkosten» für die Grossbank.",
  "key_points": [
    "UBS plans new compromise between 50% and 90% equity reserve",
    "Stock market bets on UBS withdrawal after Ständerat setback",
    "FDP National Council Hans-Peter Portmann proposes 75% equity reserve"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}