SNB Praises 90% CET1 Backing for UBS Foreign Units as 'Good Amount'

The Swiss National Bank (SNB) has welcomed the 90% Common Equity Tier 1 (CET1) backing for UBS's foreign units as a 'good amount' from a financial stability perspective, according to Vice Chairman Antoine Martin.

This decision comes after Switzerland's upper house of parliament voted on new banking regulations in response to the 2023 collapse of Credit Suisse and its subsequent takeover by UBS.

SNB Chairman Martin Schlegel emphasized that it is still crucial to draw lessons from the Credit Suisse crisis, highlighting the importance of regulatory measures to address identified weaknesses.