Swiss Upper House to Vote on $3 Billion UBS Capital Measures

The Swiss Upper House is set to vote on Monday on a proposal to delay the implementation of new rules for bank capital quality. These rules would increase UBS Group AG's capital requirements by approximately $3 billion. The proposed delay is the second attempt by Swiss lawmakers to address this issue. The new capital requirements are part of a broader set of regulations aimed at strengthening the financial stability of the Swiss banking sector. The vote comes as the Swiss government and the banking industry grapple with the economic impact of the COVID-19 pandemic. The potential delay in implementing the new capital rules could provide some relief to UBS and other Swiss banks as they navigate the challenging market conditions. Overall, the vote reflects the ongoing efforts by Swiss policymakers to balance the need for financial stability with the potential burden on the banking sector during this period of economic uncertainty.