UBS chair warns against big rise in capital ratios

Different opinion: Kelleher speaking at an event in Basel. He says UBS already holds significantly more capital than comparable banks.— Reuters

ZURICH: UBS chair Colm Kelleher is warning that the Swiss government’s plans to strengthen capital requirements for big banks could damage the country’s position as a financial centre.

The government earlier this year laid out plans for tougher capital requirements for UBS and Switzerland’s three other big banks in a bid to make the financial sector more robust after the crash of Credit Suisse last year.