UBS could take years to feel the bite of new regulations after the Swiss government set out plans aimed at keeping the 'monster bank' in line that were light on detail and heralded a tortuous political process to enshrine them in law.
could take years to feel the bite of new regulations after the Swiss government set out plans aimed at keeping the "monster bank" in line that were light on detail and heralded a tortuous political process to enshrine them in law."too big to fail" recommendations
"The measures proposed by the Federal Council are not enough to finally regulate the banking sector effectively," said Cedric Wermuth, co-leader of the centre-left Social Democrats , the second-biggest party in the Swiss parliament. The government said it was "difficult to reach a final judgement on the exact impact" of its mooted higher capital requirements, but argued Swiss banking would benefit.
The measures were not intended to be a major shake-up, but a series of steps aimed at putting more safeguards in place to reduce risk in the banking sector, the person said. The supercharged lender now has a balance sheet of around $1.7 trillion, twice the size of the Swiss economy. Watchdog FINMA and the central bank need to be comfortable with its business model, otherwise there could be friction over the risks that a bank of its size poses, the shareholder added.
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