11:11 AM EDT, 10/29/2026 (MT Newswires) -- (Updates with UBS and the Swiss finance department's statements) The Swiss Federal Department of Finance conducted an assessment of UBS Group's (UBSG.SW) potential relocation in light of the proposed tighter capital requirements for the bank, a spokesperson for the department told MT Newswires. The relevant authorities believe the Federal Council's proposed measure is effective, targeted, proportionate and manageable for UBS, the spokesperson added Thursday in response to a Reuters report. However, the department said it cannot comment on the analysis referred to by the newswire. Reuters reported that the review examined relocation scenarios in the US and UK, and indicated that the associated costs could be comparable to the additional capital UBS may need to raise under Switzerland's proposals, which could require $18 billion in additional common equity Tier 1 capital. UBS, meanwhile, said it does not comment on "speculation or views expressed on such matters."

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