UBS fell more than 3.8% amid reports that the Swiss government plans to propose stricter capital rules
UBS fell more than 3.8%, closing at $32.46. Reports indicate that the Swiss government is expected to release a draft next month requiring UBS to increase its loss absorption capacity, needing to fully cover the capital losses of its overseas units. The report states that the draft has not yet been finalized, and the Swiss Federal Council may still make modifications. If the draft is implemented, it means UBS will need to raise up to an additional $25 billion in capital
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