Swiss upper house backs 90% CET1 capital backing for UBS foreign units
In a blow to UBS, Switzerland's upper house of parliament on Wednesday voted in favour of capital rules that would require the bank to back its foreign units with 90% Common Equity Tier 1 capital.
Following the decision in the first of two chambers, the capital rules bill will move to the lower house of parliament, with a final decision expected at the end of this year at the earliest, and more likely in 2027.
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