Swiss Minister Affirms UBS Will Stay

The Swiss Finance Minister confirmed that UBS is unlikely to leave Switzerland, despite the Senate's vote to tighten the bank’s capital rules. She explained that imposing stricter regulations would be more costly and legally complex, especially after UBS Chairman's warning that the bank might consider relocating its headquarters if the regulations become more stringent. The approved capital requirements mandate UBS to maintain an additional approximately $18 billion in capital, forcing the bank to support its foreign subsidiaries with 90% of its Tier 1 capital, which is more expensive than the lower-cost proposals the bank preferred. The minister anticipated that rule adjustments will be discussed again in the House of Representatives after Senate approval, and a final decision is not expected before 2027.

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