ZURICH, July 2 (Reuters) – The Swiss National Bank said on Thursday the country’s banks were in a good position to cope with current macroeconomic and financial challenges, and noted that UBS appeared well capitalised as it faces tougher capital requirements.
“The Swiss banking sector is well positioned to withstand the current challenging macroeconomic and financial environment,” the SNB said in its financial stability report.
Following the 2023 collapse of Credit Suisse, which was subsequently acquired by its rival UBS, Swiss authorities have set about tightening capital requirements for the bank.
“According to the pro forma calculations of the authorities and including reserves, UBS already has sufficient capital to meet the proposed requirements,” the SNB said.
(Reporting by Dave Graham, Editing by Friederike Heine)