Credit Suisse, UBS told to comply with capital rules

Credit Suisse and UBS need additional going-concern capital amounting to roughly 10 billion francs (US$10.4bil) each, the SNB said.

ZURICH: UBS Group AG and Credit Suisse Group AG need to issue billions more in bonds to meet Switzerland's new capital requirements and prepare for tougher global standards, the country’s central bank said.

While the banks have improved their capital situation over the past year, “they need to take action – particularly in meeting the leverage ratio requirements and the gone-concern requirements,” the Swiss National Bank (SNB) said in its annual financial stability report, published Thursday ahead of its monetary policy assessment.