UBS scores interim win on capital buffer rules

UBS bank notched up an interim victory in its multi-year struggle against Switzerland’s push to make it hold billions of extra dollars in capital. The Zurich-based bank should be able to use convertible debt, known as AT1s, for as much as 50% of the extra requirement, provided that those instruments are reformed, lawmakers from the key Economic Affairs and Taxation Committee of the Senate said on Monday. +How to tame UBS without making the bank toothless Since the collapse of Credit Suisse more…