Swiss regulators are coming down hard on UBS and Credit Suisse over the amount of capital they have on hand.
Bloomberg: UBS AG and Credit Suisse Group AG may have to almost triple the amount of cash they hold in relation to customer deposits under new proposals from Swiss regulators, two people familiar with the matter said.
The two largest Swiss banks may be required to hold 45 per cent of customers’ demand deposits in cash or easy-to-sell securities such as government debt, almost three times as much as under current rules, said the people, who declined to be identified because the proposals haven’t been made public. The banks, which are in talks with the regulators, are seeking to soften the requirements, the people said.
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