UBS CEO Ermotti warns against harsh capital rules ahead of parliamentary vote
Bloomberg, citing NZZ, reports that Sergio Ermotti called Swiss lawmakers’ proposal for UBS’s future capital requirements “bearable” but said it would still deal a blow to the bank.
TLDR
Reuters reports that UBS CEO Sergio Ermotti warned lawmakers against excessively strict capital requirements in an interview published days before a key parliamentary vote. Bloomberg, citing NZZ, reports that he described Swiss lawmakers’ proposal as “bearable” but said it would still deal a blow to UBS.
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