{ "story_id": "6847e9cce6db943c7c09dd9948f59415", "desk": "drm3", "revision": 1, "published_at": "2026-09-01T11:02:14.000Z", "content_hash": "1f2ac681db0bfd2d9c72a0622930968f5702648b5dcea41d7fdb54b0ef861deb", "hash_basis": "sha256 over `headline\\ndek\\nprose`, plus `\\n` + the canonical citations JSON when any source is placed, plus `\\n#blog` for blogs", "basis": { "headline": "Swiss Panel Backs UBS Using AT1 Debt for Half of Capital Hike", "dek": "Swiss upper house committee voted 10-2 to let UBS use AT1 convertible debt for up to half of the extra capital requirement, softening a proposed $20 billion hike.", "prose": "The Economic Affairs and Taxation Committee of the Swiss upper house voted 10-2, with one abstention, to recommend that UBS Group AG be allowed to use AT1 convertible debt for up to 50% of the additional capital requirement imposed by the Swiss government, provided the instruments are reformed. [^1]\n\nThe Council of States' Economic Affairs Committee voted 10 to 2 to require UBS to support its foreign subsidiaries with 50% Common Equity Tier 1 capital. [^2]\n\nUBS stock fell 2.6% to trade at CHF 43.12 after the Council of States' Economic Affairs Committee in Switzerland delivered a ruling on the bank's capital requirements. [^3]\n\nJoseph Dickerson and Theo Massing, analysts at Jefferies, said in a note that the committee's decision represents a materially softer approach that would give UBS more flexibility in meeting the Swiss government's demand to back foreign subsidiaries. [^4]\n\nThe Swiss government has been pursuing a capital requirement hike of around $20 billion for UBS Group AG, as part of its reform agenda following the collapse of Credit Suisse, to ensure UBS's foreign businesses cannot sink its domestic entity. [^5]\n\nUBS Group AG executives have argued that the capital requirement increase would make the bank uncompetitive. [^6]\n\nThe committee permitted the remaining 50% of capital requirements for foreign subsidiaries to be covered by redesigned Additional Tier 1 bonds. [^7]\n\nThe committee's decision represented a compromise that fell short of the Federal Council's more stringent 100% Common Equity Tier 1 demand. 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