Swiss Council of States adopts stricter capital rules for UBS

According to UBS, if confirmed the bank would have to hold around $16bn in additional CET1 capital; together with existing requirements stemming from the Credit Suisse takeover about $33bn. The bill now goes to the National Council.

On 23 September 2026 the Council of States voted 29 to 16 that UBS must back its foreign participations 90% with hard core capital (CET1) (currently 45% CET1 and 17% AT1); it followed a minority motion and went further than its committee (50% CET1, 50% AT1), but stopped short of the full backing demanded by the Federal Council. UBS criticised the decision and puts the additional requirement at around $16bn; the National Council deliberates next (dpa-AFX via finanzen.net, 23 Sep 2026; NZZ). Update (28 October 2026): the National Council's economic affairs committee (WAK-N) agreed without opposition to take up the bill but has not decided anything else yet; detailed deliberation is planned for 23-24 November 2026, and the National Council is expected to deal with it in the winter session (Parliamentary Services, 28 October 2026).