UBS, Credit Suisse Told to Raise More Capital

Switzerland’s two largest banks, UBS AG and Credit Suisse, have both been told they must increase their capital in order to meet the Basel III rules. The rules call for banks to hold sufficient capital to equal at least 19 percent of their assets, weighted according to risk. UBS and Credit Suisse both expect to meet the new capital requirements without having to sell new shares, the banks said today in separate statements.

Source: Bloomberg

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