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Swiss Senate paves way for direct government action on UBS capital rules
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Swiss Senate paves way for direct government action on UBS capital rules
The Swiss Senate has turned down a proposal that would have mandated parliamentary review of all new capital regulations for UBS, Reuters has reported. This outcome allows the government to directly move ahead with measures that could potentially raise UBS’s core capital requirements by around $9bn. In June, the government outlined a strategy aimed at minimising the bank’s risk exposure, which included a directive that UBS would no longer be per…
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