Switzerland's new banking regulations create a 'lose-lose situation' for UBS and may limit its potential to challenge Wall Street, says Beat Wittmann of Porta Advisors.
In a 209-page plan published Wednesday, the Swiss government proposed 22 measures aimed at tightening its policing of banks deemed "too big to fail," a year after authorities were forced to broker the emergency rescue of Credit Suisse by UBS.
The government-backed takeover was the biggest merger of two systemically important banks since the Global Financial Crisis. The Wednesday report floated giving additional powers to the Swiss Financial Market Supervisory Authority, applying capital surcharges and fortifying the financial position of subsidiaries — but stopped short of recommending a "blanket increase" in capital requirements.
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