UBS flags extra ~$15B Credit Suisse fallout costs
UBS says the Credit Suisse fallout has cost more than expected—about $15B extra—and discusses aligned international rules amid Swiss proposals that could require relocating operations; it is also considering a 50/50 CET1/AT1 fix needing about $13B.
UBS Group AG (NYSE:UBS) said Credit Suisse fallout has cost more than expected, with about $15B in additional costs. The bank also urged aligned international rules, saying Swiss proposals for 100% CET1 in foreign units could push it to relocate. UBS said a 50/50 CET1/AT1 fix requiring about $13B is under consideration.