Swiss Finance Minister Karin Keller-Sutter has stated that the government will not be swayed by 'intense' lobbying from UBS as it develops new rules for the country's financial sector. Her comments were published in an interview on Tuesday.
This firm stance indicates the Swiss government's determination to implement stricter banking regulations following the 2023 collapse of Credit Suisse. It suggests that UBS's efforts to influence the outcome of these reforms may not be successful.
The minister's remarks underscore the ongoing tension between the bank's desire for competitive capital requirements and the government's mandate to enhance financial stability. This development reinforces the likelihood of significant regulatory changes impacting UBS.
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