Bloomberg Reports ‘Reviewing UBS Headquarters Relocation’ Swiss government presses UBS to secure capital UBS “Shakes Competitiveness with Strict Regulations” UBS assets nearly double Switzerland’s GDP
사진 확대 UBS headquarters in Basel, Switzerland.
UBS, a world-class bank born by Switzerland, has been angered by regulations from financial authorities and is considering relocating its headquarters overseas.
According to a Bloomberg News exclusive report on the 20th (local time), UBS is poised to move its headquarters against regulators’ demand to secure an additional $25 billion in capital.
Swiss authorities have been calling for UBS to increase its equity capital, which worries that implementing government capital regulations could raise its core equity capital ratio from the current 14% to 20% in the worst-case scenario, according to Bloomberg.
UBS has protested that excessively strict capital requirements weaken banks’ competitiveness and provide unfavorable banking products for customers.
UBS has not made a specific position on the rumor of relocating its headquarters from Bloomberg.
UBS is a 160-year-old bank based in Basel and Zurich, Switzerland. Founded in 1862, Vinter Tour Bank merged with Togenburker Bank in 1912 and began using the name UBS.
UBS took over CS at the request of the government, which was in urgent need when Credit Suisse (CS) was in a liquidity crisis due to financial market instability from Silicon Valley Bank in 2023. As a result, it has become an ultra-large bank with assets of 2,300 trillion won, but it has been showing a nervous response when the government’s capital strengthening regulations began last year.
UBS’ assets account for a large portion of the Swiss national economy, more than double Switzerland’s gross domestic product (GDP). If UBS moves its headquarters, it is feared that it will have a significant adverse impact on the Swiss economy.