Swiss Finance Minister Opposed to AT1 Compromise for UBS

Switzerland’s finance minister says she opposes a compromise proposal floated by lawmakers as part of the debate about new capital requirements for UBS Group AG, dashing hopes her stance had softened on the issue.

The idea to partially use AT1 bonds instead of CET1 capital to provide full capital backing for foreign subsidiaries “doesn’t solve the problem,” Karin Keller-Sutter said in an interview with Swiss news outlet Finanz und Wirtschaft published on Friday.