UBS floats concessions to broker Swiss capital compromise, say sources

Reuters exclusively reported that UBS has offered to cap the future size of its investment bank as it seeks to broker a compromise with Swiss authorities wanting to increase the lender’s capital requirements. The story revealed that, amid a series of warnings about the impact of the proposed new rules on the bank, UBS is floating concessions including another on bolstering the capital it sets aside. Two years on from the collapse of Credit Suisse, the debate over how to make Swiss banking safer dominates the outlook for the world’s second-largest wealth manager and is a highly competitive story. The scoop was matched by Bloomberg and the Financial Times, which both cited Reuters, and was picked up by several Swiss outlets including Blick and Cash.