Reuters: Global Markets: UBS and Credit Suisse shares fall as stricter capital rules loom

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UBS and Credit Suisse shares fall as stricter capital rules loom Nov 4th 2013, 08:45 Tweet Share this Email Print Reprints Related Topics Hot Stocks » Asian Markets » 1 of 2. The logo of Swiss bank UBS is seen at a branch office in Zurich October 29, 2013. Credit: Reuters/Arnd Wiegmann ZURICH | Mon Nov 4, 2013 3:45am EST ZURICH (Reuters) - Shares in Swiss banks UBS (UBSN.VX) and Credit Suisse (CSGN.VX) were down almost 3 percent in early trading on Monday after media reported Swiss politicians were considering tightening capital requirements for Swiss banks. Swiss Finance Minister Eveline Widmer-Schlumpf was quoted as saying in a newspaper interview on Sunday that Swiss banks should be subject to higher leverage ratio requirements of 6-10 percent, stricter than the ratio set out by Basel III rules. Shares in UBS were down 2.7 percent at 0834 GMT (3:34 EDT), while Credit Suisse fell 2.8 percent, lagging a 0.1 percent weaker European banking sector index .SX7P. Broker J.P. Morgan Cazenove said in a note a 6 percent leverage ratio requirement would create "material uncertainty". "Over time any such potential move could lead to further shrinkage of the FICC (fixed income, currencies and commodities) division for the Swiss investment banks, especially at Credit Suisse Group," the analysts said. (Reporting by Silke Koltrowitz) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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