Finma to revise UBS’s recovery and emergency plans
Swiss regulator suspends annual plan approval because of “obstacles” created by Credit Suisse merger
Switzerland’s financial markets regulator suspended its annual approval of UBS’s recovery and emergency plans on October 15.
Finma said the bank’s capacity to absorb losses remained fulfilled. However, it said that owing to “obstacles” resulting from integrating Credit Suisse into its operations, UBS would need to complete further work on harmonising group structures, processes and IT platforms.
UBS is Switzerland’s only global systemically important bank. The regulator said that if it were to
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