UBS Gains New Easements for Capital

The Swiss Parliament's Economic and Tax Affairs Committee has approved a proposal allowing UBS to meet 50% of its new capital requirements through Additional Tier 1 (AT1) bonds. This move reduces reliance on ordinary shares, lowers costs, and enhances profitability. The reform requires an amendment to AT1 bonds to ensure their ability to absorb losses during financial crises, supported by a mix of equity and AT1 bonds for all of the bank's foreign subsidiaries. The proposal will be subject to a public vote during the fall session between September and October, as part of a legislative process extending into next year.

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