Overview
Lawmakers in Switzerland’s Upper House have finished their first formal review of the government’s proposed capital requirements for UBS without issuing a recommendation to either back or oppose the plan, according to the committee’s statement released Monday. The Economic Affairs and Taxation Committee said it needs more time to assess options and alternatives to the Federal Council’s proposal.
Committee position and next steps
The committee indicated that a range of views exist among its members about how capital requirements for UBS should be structured and about which other regulatory instruments might need adjustment. Rather than take a position at this stage, it plans to study the various possible approaches in greater depth. That process will extend the legislative timetable by several months, the statement said.
Implications for the government plan
By pausing to consider alternatives, the committee’s action leaves open the possibility that the Federal Council’s original, stricter capital plan for UBS could be revised. The committee also noted differing opinions on the design of the requirements and on related instruments, underscoring that consensus has not yet been reached.
Confirmation of prior reporting
The committee’s statement confirmed an earlier report that a recommendation had not been made following the initial hearing. The announcement did not include new numerical targets, timetables beyond the description of a multi-month delay, or additional details about the specific alternatives under consideration.
Context limitations
The committee provided no further specifics in its statement about which alternative instruments or precise changes it will evaluate. It also did not provide a date for when its deeper review will conclude or when a recommendation might be expected.