Reported about 8 hours ago
UBS CEO Sergio Ermotti stated that higher capital requirements imposed on UBS as a systemically important bank will lead to increased costs for both companies and households. At a Zurich event, he urged Swiss authorities to maintain current capital regulations while emphasizing that UBS's existing capital strength effectively enabled it to rescue Credit Suisse during its crisis. He argued that any new regulations should consider the implications for the financial sector's global competitiveness.
Source: YAHOO