08:45 AM EDT, 09/23/2026 (MT Newswires) -- UBS Group (UBSG.SW) said the decision of the upper house of Switzerland's parliament to support the proposal requiring the banking group to back its foreign subsidiaries with 90% common equity Tier 1 capital "fails to address the root causes of the Credit Suisse collapse." In a Wednesday response to the decision, UBS said the outcome is not a compromise and disregards the "serious concerns" expressed by the majority of respondents in the consultation process. The group would be required to hold a total of $33 billion of incremental CET1 capital since it acquired Credit Suisse, if the Council of States' decision on the matter is confirmed at the end of the parliamentary process. "As the parliamentary process continues, UBS will focus on protecting its long-term interests. UBS will also continue to contribute facts and analysis to support informed decision-making and advocate for regulation that is truly targeted, proportionate and internationally aligned," the bank added.

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