Highland Gold Maple making syrup from Cape Breton woods for 25 years | SaltWire #capebreton #mapleBERN - Switzerland's government said on Wednesday that UBS and three other systemically relevant banks must face tougher capital requirements to shield the country's wider economy, a year after the rescue of Credit Suisse.
The increase in requirements for UBS will be"substantial, especially if UBS were to retain its current size and structure, or even grow," it noted in an explanatory document. At around $1.7 trillion, the UBS balance sheet is now double the size of Switzerland's annual economic output, giving it an exceptional weight for a major economy.
"It is difficult to reach a final judgement on the exact impact of increased capital requirements," it said, noting that they should factor in"proportionality" given competitive pressures facing Swiss banks. The Financial Stability Board, a global financial watchdog, has also cautioned Switzerland about the risks of UBS failing.
Analysts do not expect such tough terms to be imposed on UBS, which currently has a common equity tier 1 ratio of 14.5%, or $79 billion, equating to a leverage ratio of 4.7%.
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