The major bank UBS is approaching a crossroads after the Swiss parliament’s upper house backed stricter capital requirements that, according to the bank, could entail around USD 16 billion in additional CET1 capital. Bloomberg News reports this, citing sources.
The bank continues to consider its options, including a possible move from Switzerland, while trying to have the rules eased.
A merger with Morgan Stanley or another major US bank is seen internally as a possible route to relocation, but no parties are currently said to be pursuing such a deal.
UBS has no imminent acquisition plans and is awaiting greater clarity on the capital rules, according to Bloomberg.
