Ermotti says 90% CET1 proposal is no real compromise
UBS CEO Sergio Ermotti said the Swiss proposal to back foreign units with 90% Common Equity Tier 1 capital, instead of 100%, is not really a compromise and urged Switzerland to pursue a more moderate course.
UBS CEO Sergio Ermotti said on Tuesday that a proposal to require the bank to back its foreign units with 90% Common Equity Tier 1 capital, rather than 100% CET1, is not really a compromise. He urged Switzerland to take a more moderate approach. “The current proposal from the Federal Council at 100% and the…”