UBS Setback as Swiss Upper Parliament Reportedly Votes for Tighter Capital Requirements

05:45 AM EDT, 09/23/2026 (MT Newswires) -- UBS (UBS) was dealt a blow after the upper house of the Swiss parliament backed capitalization requirements largely in line with government demands, news outlets reported Wednesday. Under the plan, the lender must back 90% of its foreign units with the highest-quality capital, a plan which UBS opposed, Bloomberg said. The bill must now be considered by the lower house of parliament, with a final decision not expected until next year, according to the reports. The capitalization requirements follow the 2023 collapse of Credit Suisse, the assets of which UBS took over in a government-backed bailout. UBS did not immediately respond to MT Newswires' request for comment.