Politics
Switzerland’s Capital Plan for UBS Wins Wholehearted IMF Backing
Key Points
Switzerland’s Capital Plan for UBS Wins Wholehearted IMF Backing The Swiss government’s plan to make UBS Group AG hold significantly more capital was praised wholeheartedly by the International Monetary Fund. In remarks on its annual assessment of the Swiss economy, mission chief James Walsh said Thursday that the fund “strongly” supports the government’s proposal to require the bank to fully back foreign units in high-quality, so-called CET1 capital at its parent entity.
Switzerland’s Capital Plan for UBS Wins Wholehearted IMF Backing
The Swiss government’s plan to make UBS Group AG hold significantly more capital was praised wholeheartedly by the International Monetary Fund.
In remarks on its annual assessment of the Swiss economy, mission chief James Walsh said Thursday that the fund “strongly” supports the government’s proposal to require the bank to fully back foreign units in high-quality, so-called CET1 capital at its parent entity.