Swiss lawmaker withdraws motion to send bank bill back to government

Key Takeaways

• Andrea Caroni proposed returning the UBS capital‑rule bill to the Federal Council, arguing the government should design the rules rather than parliament (srf.ch).
• He withdrew the motion on Sept 17 in the upper house, ending debate on the issue during the current session (srf.ch).
• Context: The draft law—part of a post‑Credit Suisse “too‑big‑to‑fail” reform—would require UBS to fully back its foreign units with CET1 capital, potentially adding around USD 20 billion in requirements. Parliamentary committees have proposed partial alternatives like AT1 bonds to mitigate costs (edi.admin.ch).