Swiss Finance Minister Karin Keller-Sutter has said estimates banking giant UBS will need a further $15 billion to $25 billion (CHF13.7 billion to CHF23 billion) in capital as part of government proposals are accurate.
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2 minutes
Paul Arnold, Reuters
“It’s true, the figures are plausible,” Keller-Sutter told the Tages-Anzeiger newspaper on Monday.
Last week, the government presented its report on the reform of banking regulation and recommended, among other things, stricter capital requirements for the country’s largest bank to strengthen the sector. However, it did not give any concrete figures.
The media subsequently circulated estimates of up to CHF25 billion in additional capital requirements for UBS. Analysts from financial services firm Autonomous Research estimated that the bank will have to retain $10 billion to $15 billion in additional capital.
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