UBS 'Hard Capital' Plan Gets Boost from SNB Vice President Antoine Martin

Swiss National Bank Vice President Antoine Martin has reaffirmed UBS Group AG's 'hard capital' plan, which requires the bank to fully back its units abroad with highest-quality equity capital in Switzerland.

The proposal is currently being debated by lawmakers, who are considering watering down the requirement. However, Martin emphasized that the government's original proposal remains optimal.

This development comes at a time when UBS is facing increased scrutiny over its cross-border operations and capital requirements.