BERN, Dec 11 (Reuters) - The Swiss National Bank continues to support the banking regulation measures proposed for UBS by the Federal Council in June, the central bank's Vice Chairman Antoine Martin
Swiss National Bank Endorses UBS Regulation Proposals
BERN, Dec 11 (Reuters) - The Swiss National Bank continues to support the banking regulation measures proposed for UBS by the Federal Council in June, the central bank's Vice Chairman Antoine Martin said on Thursday.
"We believe that these measures are appropriate and targeted," said Martin, whose role includes overseeing banking stability in Switzerland. "We also believe that these measures are neither extreme nor excessive."
Martin said that the SNB did not comment on decisions by the bank's management, responding to a question about any potential relocation of UBS's headquarters.
"We believe that there are real advantages for a bank like UBS to be based in Switzerland, and we think it is important for Switzerland to have robust regulations for a bank of this size," Martin told reporters in Bern.
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.
(Reporting by Ariane Luthi, editing by John Revill)
