UBS: Proposed measures to have ‘far-reaching’ consequences for Swiss economy

UBS (UBS) said in a statement: “Earlier today, the Swiss Federal Council published its final Capital Adequacy Ordinance specifying the regulatory capital treatment of select assets for banks headquartered in Switzerland. As well as publishing the final CAO, the Federal Council also submitted to parliament its final proposal for amendments to the Banking Act that governs the capital treatment of foreign participations of systemically important banks. This proposal will now be deliberated by parliament in the normal course of business. UBS continues to strongly disagree with the proposed package, which is extreme, lacks international alignment and disregards concerns expressed by the majority of respondents to the government’s consultations. If adopted, the proposed measures would have far-reaching consequences for the Swiss economy. The materials published by the Swiss government today contain assertions that we believe to be misleading. Considering UBS has just received this information, it is in the process of thoroughly evaluating all documents and statements made during the Federal Council’s press conference. UBS will provide additional comments at the latest with its results for the first quarter of 2026, which will be published on 29 April 2026.”