UBS’s key requirements should be balanced, says Minister By Reuters

ZURICH (Reuters) – Financial requirements set for UBS under new banking laws should be “equal”, as Switzerland tries to strike a balance between economic competitiveness and taxpayer protection, Finance Minister Karin Keller-Sutter said.

Swiss authorities are considering how to reform banking laws to avoid a repeat of the 2023 collapse of Credit Suisse, which led to its takeover by former partner UBS.

In an interview with Sunday, Keller-Sutter said that UBS was now the largest bank in relation to the growth of the Swiss economy, creating a “special situation”.

“So preventive and preventative measures must be taken; this means money, which means money,” he told national radio. SRF (NS:).

He acknowledged that UBS has already faced other challenges, including the Basel III rules from January that not all countries are working in the same way.

In April, Keller-Sutter said that the estimate that UBS should have another $ 15 billion to $ 25 billion according to the government’s opinion “is reasonable”.

Asked in the interview whether the $25 billion fund was still in effect, Keller-Sutter said she would not say. In the end, what counted was all the measurements, he said.

“This must be balanced,” he said, arguing that Switzerland must find a balance between having a competitive economic sector and protecting taxpayers.

Speaking to an upcoming parliamentary report on how the government handled the Credit Suisse crisis, Keller-Sutter insisted that the main problem lies with the bank’s management.

Asked about US President Donald Trump’s threat to impose high tariffs on foreign trade, Keller-Sutter said it was too early to speculate.

“But of course, if such prices happen, it would be toxic to the international trade,” he said.