ZURICH, Feb 11 (Reuters) - The Swiss National Bank has reiterated its support for government proposals to make Switzerland's banking sector more secure after the meltdown of Credit Suisse, vice
Swiss National Bank Supports Stricter Regulations for Banking Sector
Strengthening Banking Regulations in Switzerland
ZURICH, Feb 11 (Reuters) - The Swiss National Bank has reiterated its support for government proposals to make Switzerland's banking sector more secure after the meltdown of Credit Suisse, vice chairman Antoine Martin said on Wednesday.
Government Proposals Overview
The Swiss government in June proposed measures to prevent future banking crises following the 2023 collapse of Credit Suisse, which could make UBS hold up to $24 billion in extra capital.
UBS's Response to Proposed Measures
Martin, speaking at an event in Paris, said the SNB supported the measures which include a requirement for big banks to prepare sufficient collateral to access central bank liquidity if needed.
Future Outlook for Banking Regulations
Other proposals include that UBS can no longer count software and deferred tax assets towards its Common Equity Tier 1 capital, whiles its foreign units must be fully backed with CET1 capital.
The proposals have been rejected by UBS, which said they would make Switzerland less competitive.
The government is set to publish its final proposals soon, with UBS expecting more clarity in the next two to three months, the bank's CEO Sergio Ermotti said earlier this week.
(Reporting by John Revill, editing by Ariane Luthi)
