A Swiss parliamentary committee failed to reach an agreement on Tuesday on new capital rules for banking giant UBS. Some lawmakers called for easing the strict regulations proposed by the government in the wake of the Credit Suisse collapse. The proposed rules would require UBS to hold roughly 20 billion dollars in additional common equity Tier 1 capital. UBS argues the requirement is excessive and would undermine its competitiveness. The committee is set to reconvene on the 31st, and committee member Fabio Regazzi said the goal of a Senate vote in September remains unchanged.
UBS Group AGProposed rules would require UBS to hold $20B additional capital, which UBS argues is excessive and undermines competitiveness.
