Exclusive-UBS urges Swiss government to clarify capital demands, sources say

ZURICH - UBS is pushing the Swiss government to clarify how much more the bank will need to hold in capital buffers after buying Credit Suisse , amid concerns the talks will drag on for months, unnerving investors, sources familiar with the matter said.

The bank recently detailed its view to the government, with UBS vice president Lukas Gaehwiler, who has worked with Finance Minister Karin Keller-Sutter on the board of a Swiss association, playing a key role in lobbying efforts to limit the capital demands, another person said. The capital-related proposals are at the core of Switzerland's efforts to build a more resilient financial system after the dramatic collapse of Credit Suisse shook confidence in its reputation for stability.

During a call discussing UBS's first-quarter results, analysts quizzed Ermotti on whether exiting some markets could be a solution to free up resources. If UBS presents a sound plan to unwind the bank in the event of a crisis, and if other too-big-to-fail rules to strengthen the regulator's powers are approved, FINMA - whose views the government takes into account when approving the rules - could require less capital, the person said.

The lender is also dealing with the huge task of migrating Credit Suisse clients. Ermotti told Reuters last month that any delays to the integration could erode planned cost savings.George Conway Tells Trump What The Rest Of The World Really Thinks About HimUrgent need to investigate Trump’s business assets in Scotland, say Greens

Source: Loan Digest (loandigest.net)

FINMA Swiss Government Stefan Walter The Government Switzerland Capital Sergio Ermotti

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