LONDON – UBS Group (NYSE: UBS) remains in “technical discussions” with the Swiss government about its plans for the bank to hold more capital but is yet to receive feedback, CEO Sergio Ermotti said on Wednesday.
“We are not yet into any phase where you get any feedback because it’s about exchanging facts, not views on the matter,” Ermotti told reporters during a media call after UBS published third-quarter results. “We are talking about 22 proposals that the Swiss Federal Council outlined and so we are working to make sure that all parties have the same data, the same basis for any decision,” he added.
(Source: Reuters)
